Mr Bean at the Swimming Pool
Recession Indirectly Affects Other Large Industries
As this nation remains in one of the most difficult economic recessions in the past {40 years, there are many businesses that are adversely affected, but go unnoticed~Many industries and U.S. businesses are suffering indirectly because of the national recession~The biggest recession that U.S. residents and businesses have seen in the past sixty years continues to indirectly affect many industries}. Some of the most talked about issues have stemmed from the financing and loan programs, stock market, banks and the nation’s housing collapse. Many major U.S. owned businesses, that employ millions of Americans, are also being affected by the recent collapse in these major industries.
At the epicenter of the housing market and property value decline is Phoenix, Arizona – one of the hardest hit locations in the U.S.. These buyers all have property that has greatly depreciated in value over the past two years (sometimes being down twenty to fifty percent). Home foreclosures are on the upswing, repossessions are common place, and people are just walking away from their homes because of lack of home equity.
For those people who are not affected by unemployment, housing market decline, and stock market woes – they quickly find out they are incorrect. When most homeowners desire to make enhancements to their houses, they may need financing or some sort of financial loan. This home improvement loan generally comes from a local bank, credit union, or credit agency. Over the past 24 months, these financing programs have not been available for prospecting buyers of home improvements such as home remodeling, swimming pools and landscaping.
One of the largest industries hit in Phoenix has been the swimming pool construction business, who mainly relies on financing and home improvement loans for customers. Without the aid of financial loans, these buyers are either unable to buy a pool, or end up buying a much smaller, less-expensive pool. Arizona pool companies have struggled greatly with the downswing in the economy and lack of financing – sometimes even closing their doors, down-sizing, or diversifying into other markets. By offering a more diverse range of construction services, such as pool remodels, landscaping, and hardscaping, Motivated swimming pool companies are generating additional income. General contracting companies have completely gone into other fields, such as sales, marketing, or consulting. Phoenix Landscaping Contractors are starting to offer other popular landscape features such as paver patios, waterfalls and ponds, Phoenix landscape lighting systems, and mist systems – anything to earn extra income.
Some intelligent contractors have figured out the diversity game many years prior to this industry decline, such as Unique Landscapes and Custom Pools, a Phoenix swimming pool and landscape company. As a Phoenix pool builder, licensed general contractor, and landscaping contractor, Unique is able to offer their clients many different options when it comes to home improvement. “My company has been able to make things work during these tough times, thank goodness we diversified several years ago, and have many different components of swimming pools and landscape services to offer our customers. However, the major drawbacks have been the simple fact that these financing programs are just not available to the average customers.”
“It’s tough to think about all the money that was given to banks just a year ago for these construction loans, and now it’s near impossible for our customers, who want to buy our products, to get this money” remarks business owner Chris Griffin, of Unique Landscapes and Custom Pools in Mesa, AZ. It would be great for the economists to offer a little advice for the struggling construction companies, who are also suffering in this recession. “Business has been really slow, and over half of our sales leads don’t end up buying at all” says Griffin “It’s frustrating, but Pool loans Phoenix are getting better”.
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