Decline in construction must be solved by government

by Martina Harvanova

As it may seem, constructions, renovations and similar building of new places are nowadays experiencing their heavy rise. Almost on every street we notice a building site, on every side of a town we stumble due to temporary traffic diversions or side-walks full of stones and odd rubble, maybe concrete. One would assume, the construction business occurs on its apparent growth as our simple sight reveals the busyness of engineering or real-estate companies. However, this opinion would be absolutely wrong.The reason for my point of view is called intensified slump in home constructions. And it is honestly true. At the beginning of the last year the economists didn't foretell such a steep decline, but even their deepest worries came true. These experts affirm that the housing decrease in U. S. is on the level and possibly it is even exceeding the similar downturn in the late 1970s and early 1980s. Exactly this term was significant by the interest rates pushed to the highest levels since the Civil War. If you want to see it in numbers: in 1980 the plunge was represented by 26 per cent while the slump of 2007 reaches up to 24.8 per cent compared to the year 2006. Even the drop in construction in December wasn't one of the predictable ones; it surprised the experts in a great deal. Those were numbers. And the possible solution? Generally known fact that American economy may face a possible recession in the next years frightens the vast majority of the U. S. population. Affects will namely influence even broader public. President Bush together with the Congress members is in front of tough decisions and adoption of needed actions. Their next movements should prevent a downturn by offering an economic stimulus. It is apparent the American economy needs to be strengthened. However, any natural steps won't help it, the government and the federal officials have to meet the necessary arrangements. The steep slump is menacing further more people and situations as it may seem.

related story: http://news.yahoo.com/s/ap/20080117/ap_on_bi_go_ec_fi/economy;_ylt=ApTzGWKXj0n1llbOUqBpYuas0NUE

by Martina Harvanova for PocketNews (http://pocketnews.tv)

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Posted by: Maria Vidlickova