Experts are now seeing the long awaited signs that could mean that the recession is coming to a close. In response to this, many real estate markets are seeing a surge. Because prices are so low right now, many investors and families who might have lost their homes previously, are buying back into the market. For moving companies across the nation, this comes as a relief.
The faltering economy has had a dramatic impact on national moving companies thus far. More and more people are finding it cheaper to move themselves, even if it really isn’t. The large fee that professional movers charge for their services is simply sticker shock to those who are already facing the loss of a job or home. Because of this, many companies have had to lay people off or even close their doors. To these companies, the upturn of the housing market renews hope.
While the economy is not expected to turn around immediately, seeing the light at the end of the tunnel is great news. “It’s like a new chance at business,” said Dean Smith, an employee for Bekins Movers, “Perhaps fewer people will have to worry about losing their jobs in this industry now.” He thinks that the new boom in the housing market will mean more work for movers, as families return to their homes or purchase new homes in which to live. For the relocation professionals, this means more work, more income, and maybe even a surge in business.
Other financial and real estate analysts caution against false hope. They say that most of the purchases that we are seeing now are simply investors or foreclosed homes. “Investors are not going to be moving into the homes they purchase. They will be waiting until the prices spike again so that they can rent it out for more than they pay.” Betty Taylor says. As a real estate agent, she too has suffered the wrath of the housing market crash. Happy to see things turning around, she does not see real progress until the foreclosure rate dips quite a bit more.
Most movers that have survived the financial crisis don’t mind the wait, however. They are simply glad to see things turning around so that there is hope and improvement in moral among the ranks. “We can only move up from here,” Says Dean, “no pun intended.” Indeed, at the bottom, there is nowhere else to go, but up.