For millions of Americans, their home is the single largest investment they have. Over the years, many homeowners have seen the value of their biggest investment lose ground in the economic downturn.
The TV program Impact with Martin Sheen is exploring how real estate investments from homes to land and even to commercial properties is having an impact on our national economic condition and the larger global economy.
For homeowners, the loss in the value of their homes has impacted the amount of money they can borrow for consumer spending. Without that money to put back into the economy, local businesses suffer without the revenue. That in turn can lead to more layoffs as companies struggle to remain profitable.
The Impact PBS TV show at www.impactptv.com also found that commercial real estate can also have a large impact on the economy. Large buildings and complexes require many people to build them. When construction slows down, more people are out of work.
More Americans are reluctant to sell their own homes now because of the lackluster market. With fewer people moving home construction is down. The critical home start-up number is a key indicator of the country’s overall economic health since it is indicative of the mobility of Americans and the jobs available in the construction industry.
Real estate investment is one piece of the complex global economy. When our real estate market suffers here in the United States it can have vast impacts around the world since the US economy is highly influential in the world markets.
Impact Martin Sheen is working on extensive reporting with some of the country’s most influential market observers. The broadcast will have more on this subject in upcoming editions.