Have my best wishes of a “Happy New Year” at the very outset and I really hope that this year-2010 comes up as the best for you. But I can’t share these good wishes with many others, especially people associated with some specific industries like realty sector. Reason? Taking cue from a recently completed survey, it can be said that things may not improve for some industries in the coming year and you know lots of similar deliberations are already in the air since consumers and businesses keep on to face foreclosures and other problems with debt.
Let’s get specific without wasting time. The survey was conducted under the aegis of Turnaround Management Association and as per its poll, 49 percent of respondents said that economic improvement in "distressed" industries will perhaps not appear until the latter half of 2010. What is more, even though around 30 percent of responders expressed they found the economy has made it through the worst part of the recession, 20 percent felt as though it "has yet to hit rock bottom." Wide-ranging studies indeed!
Which industry can get most vulnerable? The majority of responders (no less than75 percent, if not more) were unanimous and stated without hesitations that the commercial real estate market will face the toughest time in 2010. On the word of thirty-one percent of respondents, the automotive market would continue to face difficulties. This is good since 51 percent answers apprehended the same in 2008.
When questions regarding joblessness were asked, answers said that unemployment could be lowered by tax incentives, investments in technology and capital spending, assuming that an economic recovery doesn't create jobs on its own.
"To a lesser degree, respondents think stimulus spending to create public works and youth employment projects and repatriate manufacturing jobs could help absorb some of the millions of out-of-work Americans," a report from the TMA said.
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