The moving and storage industries felt the pinch when the recession hit and families could no longer afford to move up the housing ladder. Some families were even made homeless as the banks took possession of their homes. This led to the financial crisis that rocked the economy. However, it is possible that the housing industry is now making positive steps in the right direction for the future.
In December of last year, the amount of houses built increased. This figure is the highest since the crash in 2008. This is positive news for the industries who rely on the housing market re-growth.
However, there are less people buying, instead they are opting for renting, often in smaller multi-occupancy properties like apartment blocks. This is good news for the moving companies across America. It means that there is potential for business growth. For the hardest hit industries, like moving businesses that rely on the housing market for the majority of their business, it looks promising for the rest of the year.
Even though people are renting more, it is important to realize when one area of housing picks up, it can have a positive impact on businesses and economic growth. Now is the time for moving businesses to make sure they are ready for the potential increase in growth and business.
Moving business should still take caution at this development. Never assume that something is going to happen and certainly don’t jump before the surge hits.
This news has created is a positive outlook for the coming year for moving businesses that have felt the brunt of the housing market crash.
In any business, there are links between different industries and if one area has a downturn this can then have an effect on other industries too. Therefore, it is important as a business owner that you are fully aware of the growth of supporting industries and plan your business accordingly.
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