Those who know me have heard me say "As goes housing, so goes the economy." Which means that when the local housing market is healthy, the local economy is healthy. Those of you who share this belief with me, were probably disappointed not to see more housing in the "stimulus bill" that passed in Washington this week.
There was a $15,000 tax credit in this stimulus bill at one time, a credit that anyone could use if they just purchased a home for their personal residence. With all the back and forth between the polical interests and Senate and House, that provision disappeared from the final bill. Too bad, it would have helped immediately. Maybe it will come back soon in a housing stimulus bill.
But keep this in mind, people need jobs to buy houses. In Chattanooga, we are eager to see the 2000 new jobs promised by the $1 billion VW plant, but the real excitement should be for the 9,000+ new jobs that the VW suppliers will bring to the region. That means new jobs, which means housing gets healthier in the whole area.
In an article in Automotive News magazine on February 2, 2009 there is a discussion about these new employment opportunities in our area. The article talks about automotive suppliers expectations for the future. This is good news for the local economy. VW and their suppliers are in essence a "stimulus" program for all of us who live and work in this area. Thanks to the Chattanooga Area Chamber of Commerce, you can Click here to read the article.
Chattanooga is patiently and positively waiting with excitement.
