Cause for Hope (3/4/10)
Given all the economic woes America has endured, a little good news is always welcome. So I think I'd share some with you.
According to the Moody's Adversity Index – which tracks the economic health of all 384 Metro areas in the nation -- 183 of those areas, or 48%, had begun to recover from the recent recession as of this past December.
That's up from only 38% in November, and – most importantly to me – the Louisville metro area was included on the list for the first time.
Yes, local employment and industrial production continued to drop, but the pace has slowed greatly from its peak. And as anyone who's ever driven a car knows, you first have to slow your speed in the wrong direction before turning the right way. And with new family housing starts up over 25%, investment levels are showing strong signs of life.
And then there was the Forbes report last week that named Louisville as the second best housing market in America. Another ray of hope.
Of course we're not out of the woods yet. To claim otherwise would be a slap in the face to those who are still suffering the very real effects of the downturn.
But all indications are that a better future really is on the horizon. And confidence-building news like this can only hasten its arrival.
Spread the word.
I'm Bill Lamb, and that's my…Point of View.