The bounce back of the American economy has heralded good news to the nation and its people. It has also brought in some respite for the nations that are directly dependent on the American economy. Many proponents of the current system and the heads of various sectors state that the growth in the economy now marks the end in the global recession. The American jobs had grown rapidly this year to an all-time high since the 2008 economic crisis. The currency has also strengthened a lot more than before.
The increase in jobs and wage rates of the people, have given rise to a large buying spree in the nation. The real estate market, which was one of the prime reasons for the systems failure, has bounced back exponentially due to the hike in people’s purchasing power. The real estate has been one of the first form of assets that American citizens are investing in. The eastern and western coasts of America have seen a drastic surge in the housing market. Additionally, the state of Texas has reported a record high in sales volumes ever since the financial meltdown.
The mood in the investment market is generally optimistic, but latest studies and research by top flight economists have cautioned the people and the market that the over indulgence in the shopping spree could give rise to the exact same situation as in 2008, and recovery from the next crisis would be virtually impossible, as the economy would not be strong enough to sustain the next meltdown. In light of the admonitory tone, there seems to have been a relatively marginal drop in the buying mood of people. This month had reported high, but relatively lesser sales and volume figures compared to last month.
The National Association of Home Builders stated that they see a minor drop in sales figures in the coming months. The sales and market satisfaction index this month fell to 61 points this month from 62 points last month. According to the index ratings, any point rating above 50 points is considered to be a good ranking and a positive environment. The ratings have been enjoying an index of 60 and above ever since June this year. The home purchases grew by little over 15 percent for the most part of this year. 495,000 homes were sold this year until the month of October, compared to 437,000 homes sold for the entire year last year.