Americans grew more confident in the economy in 2013, according to recently released data from Gallup.
Though their perception of economic conditions and the future direction of the economy experienced some ups-and-downs throughout the year, Americans were more optimistic than in years past, with gains seen across several key indicators.
Gallup’s Job Creation Index, for example, gained two points from its year-before level, while economic confidence rose five points and average daily spending increased to $88, a $16 improvement over 2012. Overall, Americans were more confident in the economy than in the previous five years, which is a positive sign that the economy is recovering from the most recent recession. Still, Gallup warns that it is unclear how strong the economic recovery is due in part to the support its received from the Federal Reserve over the past two years. This year, the Fed will begin winding down some of the economic stimulus that has been keeping interest rates at historic lows and helping boost the economy and housing market. Though this has the potential to drive rates up, the Fed has indicated that it will keep short-term rates low until unemployment drops or inflation becomes a concern.
I read this to mean that if you’re buying Taos real estate, whether a single family home or a condo, or land, do it this year before rates have a chance to rise. For a time rates will remain low, but if your dream is to move to Taos, or at least have a second home or vacation home here, don’t wait. We never know what the future will bring, but we always know an investment in Taos real estate is a very good bet.