The Current Economic Climate
February 25, 2009 – 4:00 amI recently had a meeting with the homeowner who was building their home. In this meeting there was the residential designer, general contractor, myself and also the homeowner itself, a delightful mature woman in her early 60. The homeowner was in the procedure of building a six million dollar home in a go of the most awful economic environment in the last fifty years. Though this may appear like a worst idea to most of the people, actually the high-end” custom home market has not actually been concerned by the present marketing conditions, at slightest in my local market.
At any cost, being the window and glass contractor for the development we were going over choices, hardware, owner selections and configurations. While we were going in the course of the windows, I observed that the residential designer kept looking at his wincing and blackberry. This gathering had happened for taking place on one of the major Dow Jones Industrial Average, ‘point’ drops in the history.
Ultimately the general contractor asked him? What’s the matter and why are not putting your phone down? He clarified that he was watching his life savings was going down the tubes. Now this guy was not Donald Trump, but I am pretty sure he is doing ok. He owns his own firm after all so I’m sure he is one of the top two percent in income in the country.
But I doubted does he have the money to build a six million dollar home in this worst economic environment in recent history moreover. Or 3rd vacation home as the 1 we were working on turned out to be for this homeowner While he nagged and twitched in his seat we all he could received updates every five minutes that how the market was dropping, and how he indeed to enfold things up so he could go home and recover what was left of his life savings.
As the meeting came to an edge and we began to move, then the designer told to every one of his intents to hurry and get home so he could take some special care of things as he had stated already. The homeowner also said that, she needed to get her home as well. The designer asked? “You need to get a home and require to sell some stocks too whom?
No darling she replied, I need to get a home and start buying something.
Author
Craig Osterhoudt Please click here
One Response to “The Current Economic Climate”
As of my analysis of the present stock market condition, I would say that the stock market will rally quite substantial from here. However, it is still a bear market for the longer term view. It will have another crash coming soon.
Nice blog. Well done.
By Benjamin Lee on Apr 14, 2009