The economic malaise of the past year has caused Americans untold heartache and anxiety. Jobs have disappeared, to the tune of 7.2 million since the recession began in 2007.
Credit has dried up, and people are finding it extremely difficult to get loans. The real estate market has taken a nose dive, and shocking numbers of people have defaulted on their mortgage loans. The situation is grim indeed – but there’s good news mixed in with all the bad.
To jump start the cheer in time for the holiday season, Go Banking Rates has taken a look at the good things we can all give thanks for.
An Improving Stock Market
Americans watched in dismay as the stock market lost trillions of dollars in value in 2008.
As a result, 401ks, CDs, IRAs and other retirement saving vehicles lost value right along with it. However, starting about 11 months ago, the market began to rebound, and by mid-October had gone back over the magic 10,000 line. Over the past 8 months, according to the benchmark Standard & Poor Index, the markets have gained 22.9%.
Real Estate May Be Getting Better Soon
The collapse of the real estate market is well-documented as one of the biggest casualties – and perhaps causes – of the recession. Millions of people have gone into default on their mortgage loans, causing further strain on banks, which in turn affects accessible liquidity.
However, the rate of foreclosure may be slowing, and while the housing market as a whole is extremely weak, there are plenty of healthy pockets around the country to keep in mind.
Low Inflation
Inflation is low, and has in fact been going in and out of a deflationary trend for several months now. While prices have recently inched a bit higher, the overall trend is something we can all be thankful for.
