Friday, January 30, 2009

BAGB Economic Forecast Dinner

Last night I attended the Builders Association of Greater Boston economic forecast dinner. The speakers were excellent, and they provided some encouraging news for Massachusetts and the nation. To summarize, their view is that the first quarter of 2009 is going to be the worst, and then things are going to gradually get better. In their opinion, we all need to try to funnel money into the economy. Those who want to buy homes should start doing it now. Mortgage rates are low, and housing prices have dropped. Those waiting for prices to drop even lower are part of the reason that we are in such a bad situation right now. There are efforts being made to help protect buyers by reimbursing them if prices were to drop even lower.

So, that supports my contention that it is a good time to renovate. You will be helping the economy and availing yourself of the good deals out there. To my last comment: There will still be bad contractors out there, but I do believe that those who are riding through this storm do tend to be the better one. It is not a guarantee, but I was in a room full of all kinds of players in the industry last night. Most of them are smart, hard-working people. Just like you.