Are people moving back into high gear this year with confidence? Is the average consumer planning on a successful year or a tough one? These types of questions occupy everyone’s thoughts and it’s never really clear how things will play out.
Issues like consumer confidence become the most crucial data point in the economy. According to the latest survey consumer confidence is at its highest level in more than a decade, despite being down slightly from earlier months.
This is definitely encouraging. A big step forward is that people have adjusted the areas that concern them. The primary issue on people’s minds is wages not jobs. The fact that unemployment isn’t the number one concern at the moment speaks volumes for how far the economic recovery has come.
For the first time in 10 years we’re seeing steady increases on a scale large enough to change consumer perception of the economy. This is really exciting and I hope everyone in the real estate investment industry pays attention.