Some positive signs
In the midst of all the doom and gloom about the housing industry and the national (and now international) economy, there are some signs, albeit small and anecdotal, that we may be starting to see glimpses that a rebound is approaching.
The Commerce Department reported housing starts jumped 22% last month, aided by a surge in construction of apartment buildings. As a result, national builders KB Home and Lennar rose 9.3 per cent to $11.12 and 8.7 per cent to $8.52 respectively, and Home Depot and Lowe’s, which respectively rose 6.7 per cent to $21.48 and 6.2 per cent to $16.42.
This, of course, is after a string of positive action in the stock market over the past week.
But even before the news of the past few days, we have started noticing some positive signs. I attended and spoke at the International Erosion Control Association’s (IECA) conference, called EC 09, that was held in Reno, Nevada last month. While attendance was lower than the past couple years that I attended, it was not as dire as I (and many exhibitors) feared that it would be. Overall, the mood was positive and most seemed to believe that a recovery in the industry would be sooner rather than later. Nobody was predicting a sudden burst, but most expected a slow and steady improvement on the horizon.
The event that was really set up for disaster was the National Home Builders’ Association’s International Builder’s Show. Held Las Vegas in January, the timing could not have been worse.
Despite a significant drop from its traditional attendance of about 100,000 – the event rotates between Orlando and Vegas – our staff and other SLDI members reported that those builders and developers that did attend where indeed proceeding with project plans. Some were actually getting financing! Many, however, were simply conducting business as usual. There was, which seemed natural to us, a stronger focus on sustainable principles.
So what does this indicate? Well, to me it seems to illustrate that no matter how bad and widespread things may appear to be, it isn’t the case everywhere. Where there is trouble and dispair for some, there is opportunity and hope for others.
Today’s news appears to indicate that the latter may start replacing the former.
Filed under: Events, Greg Yoko Posts on March 17th, 2009