Many forecasters now believe that America’s economy will grow at a faster pace this year than in 2011. Stabilizing real estate values will set the stage for an expansion which could be stronger than some commentators foresee.
Healthier housing markets will drive economic growth in 2012, adds a prediction reported by Bloomberg News. One big development is that unemployment reports released earlier this year show that joblessness has fallen to its lowest level in almost three years.
Unemployment has dropped steadily since last August, according to government reports. Additionally, consumer confidence recently rose to a five-month high, and manufacturers reported demand growing at its highest pace in six months.
Slower growth in other parts of the world should help keep commodity prices stable this year, economists note. Yet ongoing hiring in the U.S. will encourage consumer spending, and keep America’s growth on track.
Certainly we have concerns about the future. But our ability to adapt will help us find new routes to prosperity.
Continuing technological advances, the development of new energy sources, and demand from a growing middle class in many emerging countries should offer us opportunities.
It’s natural to find the path a bit bumpy as we transition to a new era. But it’s more likely that we’ll discover positive new ways to pursue our goals, rather than descending into a permanent economic funk.
Most of us live in better homes and have easier lives than past generations of our families did. Even though we may go through challenging times, overall we continue to move forward.