An excerpt from the from the Valley Business FRONT May 2013 cover story "Prospect on Real Estate" by Dan Smith
Executive Summary: The building trades and all that surrounds them have been in a serious slump for years now, but there seems to be some sign of movement in the region’s market. Will it continue? Can it continue?
“Based on historical comparisons, the home building industry is still in a very poor position, but it is poised to rebound modestly because Americans are being offered low mortgage rates, and excess inventory has now dwindled to a palatable level.”
That’s Robert Fralin of The Fralin Companies in Roanoke [Virginia] and his is a relatively optimistic, though guarded, voice in a sea of uncertainty about the near-term future in the construction and real estate segments of our economy. This is one of our most important segments, one that often gives us an indication that we’re headed into or out of a bad economy, something this region traditionally does later (both in and out) than the rest of the nation.
Real estate construction and sales affects so many businesses and disciplines that it can’t be ignored: construction of homes and businesses, sales of both of those, engineering and design, building supplies, banking. They’re all hooked in hard together and they share success and failure.
Read the full story in the May 2013 issue of Valley Business FRONT.
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