For the Holiday Season here is an excerpt from a great article by Evan Levine @ CompleteAdvisors. Thanks Evan!
Bad news sells more than good news. That’s how it is and because it is human nature. However, here is a little good news for the optimists among us.
1) The economy is advancing. Period. While the recent financial crisis and recession were painful, there has since been significant progress in the recovery. It normally takes 7-10 years to return to a pre-crisis peak (which was Q4 2007) which takes us to 2014-2017. In a historical context, we are right on track.
2) Housing is hitting (or has hit) rock bottom. The epicenter of the crisis was housing, so that sector has been a huge drag on economic growth. But now prices have stabilized and in some areas are increasing. Housing starts are up and new sales are rising which will soon lead to more new construction, home improvements and broker activity. All of this will soon have a direct and positive impact on our economy. For housing, our darkest moments are behind us.
3) Retirement savings is getting back on track in a big way. During the crisis, many Americans put retirement savings on hold, while employers reduced matching contributions to company sponsored plans. That trend has since been reversed. Fidelity recently announced that the average 401(k) balance is the highest it has been since they began tracking such data 12 years ago.
For the complete article click below:
- U.S. housing starts to pick up steam (maddowblog.msnbc.com)