This rather strange year continues. Yesterday there was an earthquake centered in rural VA that was felt from Maine to the Carolina's and west as far as Cleveland OH. A rare event for sure for the eastern half of this country. There is the first hurricane of the season brewing in the Caribbean and getting ready to attack the mainland somewhere on the east coast - maybe NYC - as a major storm. The stock markets have dropped hundreds of points and rebounded the same amount several times now in the last few weeks.
Some economists are saying we could go into another recession while some say we never left the last one. Well in the housing sector I agree with the never left position, the cycle for the last few months has definitely been on the negative side, after a pretty good positive run. It all brings to mind that for every thing there is a season, that all things change and get better, then worse, then better - the pendulum swings. I believe that we are on the cusp of the housing sector starting to continuously improve over the next few years. Many of the economists and investment people I value say that until housing rebounds, the economy will stay in this very weak cycle, up a little then back a little. But as housing gets up to the one million starts level again, which may not be until 2013 or 14, but will happen, then unemployment will start to drop back down to the seven percent of less level - residential housing is the key to our economic recovery.
So if we have finally reached the bottom in housing, or just very near it, it's time to be looking at improving your home, or buying a new home. Rates are very low, the inventory is at an all time high, and there are great deals to be had. Look at improving the energy performance of your home, either the one you are in or the one you hope to buy. That single investment will pay you back for many years to come in energy savings and added comfort. It also adds value to your home and makes it more attractive if or when you decide to put it on the market. And obviously, the best energy improvement for your home in my opinion is new, highly efficient vinyl replacement windows and reflective insulation. If not now - when?
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