Housing Construction Decline and Installment Loans

Installment loans

Installment loans are a norm in today's economy. They are no longer being used as emergency funds, but rather moving into the category of reliable sourcing for cash to pay bills. Looking at the economic climate, businesses understand that it's imperative to find alternative ways of making payments and stretching budgets. The standard ways of procuring funds is not always available because of the serious recession.

Housing construction hits second lowest level in history

The housing slump has not ended yet. In March housing construction fell 10.8%, the next to lowest it has ever been in a recorded 50-year history. Housing issues are a major contributor to the recession and without a marked improvement, we can expect the recession to last quite a while longer. Reports from the Department of Commerce show that applications for building permits, including commercial, single-family and multifamily, were well beneath economists' projections. In March, only 510,000 units applied for construction and what's worse, January's applications were only 488,000. There was a rise, however it's nowhere near the normal average for construction in the spring.

The low level of new housing is one example of proof that the recession is far from over. In addition, jobless claims are up to 6 million for the first time. Analysts predict that employment will remain weak for the remainder of the year because businesses are finding it hard to factor hiring new workers into their financial structure. In fact, most businesses are downsizing to make their own budgets work. They are also cutting discretionary expenses and asking employees to take voluntary days off. These tactics are indicative of how severe the struggle to stay afloat is. ... click here to read the rest of the article titled "Housing Construction Decline and Installment Loans"