Construction industry woes not all gloom and doom

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tape measureThis morning Bloomberg.com released a report regarding the state of the construction industry. That report provides a fairly gray view of the state of our nation's home builders. Home construction is in the process of posting a third straight year of declines and has surpassed even the direst of economic analyst predictions. For a good quick analysis of the report, read the synopsis by BloggingStocks writer Joseph Lazzaro.

However, in the midst of the weeping, I submit for your approval the assertion that this situation is not all gloom and doom. It's not to be taken for granted that the country is speckled with an endless array of hale and hearty carpenters just sitting on their hammers. We need to remind ourselves that our construction industry represents some of the best of our independent capitalist spirit. In most cases these folks aren't just giving up. They are weighing their options and changing gears.
Remember that as people become more reluctant to buy or build new homes, they are staying longer in their old ones. This means that they most likely need to address the issues which would lead them to change abodes. Room additions, kitchen and bath remodels, garages and utility sheds all top the list of new tasks former home builders are taking on. People who have the itch to build things will most likely always find things to build. In some regions the focus has quickly changed to urban renewal, as revealed by architect and investor Sheldon Liber.

Be not depressed as our country painfully revalues itself. Watch with interest as the nation's bankers are made to account for their sloppiness. Build up some savings while you wait for the next building boom. If you're patient you'll find that your home purchasing funds will multiply greatly in their purchasing power.
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