Positivity will move us forward

There has been a lot of news this week about foreclosures, mortgages, and the future of the housing market. And not much of it has been very positive. On Tuesday, CoreLogic released a new report showing that more than 40 percent of homeowners with second mortgages are underwater. Then on Wednesday, the Associated Builders and Contractors held its Mid-Year Construction Forecast webinar that included chief economists from ABC, the National Association of Home Builders and the American Institute of Architects. All three economists were in unison saying the residential housing market is still struggling and we need consumer confidence and jobs to recover first before anything else - which is unique since residential construction usually pulls us out of a recession. Also this week, Kermit Baker, Hon. AIA, chief economist for AIA, wrote an overview of current trends saying that homes are smaller because they have to compete with the influx of foreclosures on the market. All these news pieces can start to make one feel really depressed. I talked to Rob (editorial director for RD+B and QR) yesterday regarding all these news events. And we were both feeling pretty jaded by the end of the call. But then I remembered one thing David Crowe, chief economist for NAHB, said in the Mid-Year Construction Forecast: There are a lot of good things going. A few of those things: low mortgage rates, ratio of income to home prices are back to normal levels, affordability is high and so is pent-up demand. While it's easy to feel down about the current conditions, it's important to remember there are still good things happening in the housing industry. After talking with a builder and architect last week who had unfortunate luck when it came to business during the years of 2009 and 2010, it was inspiring to see their smiles and positivity. If these two men can be positive about the future - two men who lost almost everything in those two years - then we all should be able to see the some positivity in what is to come. How do you stay positive? Post a comment or send me an e-mail.

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