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Gallatin County Economy Continues to Thrive

by Tim Hart

Despite the fact that Montana’s economic growth rate has slowed in recent years, Gallatin County continues to maintain high economic growth. The county’s growth was driven by wages earned in the construction, manufacturing and service industries. From 2012 to 2013, the county added 2,500 jobs. That number was more than double any other county in Montana. Unfortunately, the amount of wages brought in was proportionally low at 28 million. Experts believe the low numbers simply reflect the generally lower wages that are given to these three sectors. But, the growth in the county still dwarfed the growth in any other Montana county.

For real estate, Gallatin County continued to look strong, coming in second for the most new housing startups. Gallatin County has plenty of potential for continued growth in this sector, as this data still only reaches to 76% of the pre-recession peak.

Source: Bacaj, Jason. “Gallatin economy growing, state slowing.” Bozeman Daily Chronicle. 6 August 2014.

Americans Show Signs of Being Optimistic

by Tim Hart

 

Fannie Mae’s National Housing Survey reports American’s concerns are subsiding. Now that the job market is on rebound, the overall feelings about the economy and transversely the housing market have more and more confidence behind them.

“The pickup in the pace of hiring over the past few months has helped soothe consumer concerns, lifting their moods regarding their personal finances, the direction of the economy, and their views on the housing market,” says Doug Duncan, chief economist of Fannie Mae. “As a result, we’ve seen more potential for economic upside, creating a more balanced near-term outlook.”

Read More:

http://realtormag.realtor.org/daily-news/2012/03/08/americans-more-optimistic-about-housing-economy

 

 

The E-C-O-N-O-M-Y: How We Should Feel About It

by Tim Hart

For too long, the state of the economy has been measured with one index or another telling us how we should feel about it.  

The Empire State Manufacturing Index, The Producer Price Index, The retail sales report, Housing Starts, The Beige Book, The Dow and countless others.  Yes, all of these types of reports can help us to face facts and make decisions based on some of those economic conditions, but they can not be the "be all, end all" for any of us.  The effect is similar to stepping on the scale.  When we take the effort to step on the scale to weigh-in regularly: it is much less of a surprise.  We can recognize trends and make adjustments to our lifestyle to achieve an ideal weight.  When we check in on the economy through the numerous reports available, it can be helpful as well.  

Unfortunately, drama sells news so drama is reported.  Too much of what was reported to us for so long generated so much fear that we have been conditioned to flinch with every bit of economic news that is reported.  Some shiny spots this week: The consumer confidence report.  This report is created through interviews of everyone from people on the street, business owners and even examines factory orders and interviews purchasing managers.  It is then assigned a number.  That number is higher now than it has been for a very long time.  Also, the number of foreclosures appears to be slowing down.  Banks will spend several years processing all of the mess of foreclosures hitting the market...but there may just be an end in sight.  In this, the election year: we hope to see the big media machine reporting on shreds of positive news.  Hopefully they do.  

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Chad Schauers
Montana Mortgage Lender, Bozeman, Montana

NMLS# 583046

 

Tim Hart

 

 

Displaying blog entries 1-3 of 3

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