Editorial: Housing markets improve, indicating economic growth

After a long and sluggish recovery from a harrowing economic recession, things seem to be looking up. Bloomberg News reported a three-year high in national housing sales, as well as an expected increase of 7.2 percent in 2013 alone.

Most economists view the housing market as a reliable barometer of the overall health of the economy.

If the economy is really and truly improving as we all hope, this can only be good news for college students across the nation who are kept awake at night with fears and anxieties about their future careers.

For those about to graduate, this is a welcome ray of hope. While we may still have to stave off the specter of unemployment, we can rest a little easier. With a ton of dedication and hard work, we can have the chance to achieve our goals.

A good economic climate is essential for attracting jobs and workers to states. Economic success breeds more economic success.

Arizona especially has a steadily improving housing market and has a good chance to retain new university graduates and keep newly-created jobs in state. ASU is establishing new campuses and is constantly increasing the number of incoming students. We’ll be seeing an expanding local economy and a fertile climate for new businesses.

When President Barack Obama first came into office at the very worst of the Great Recession, the economy was losing about 700,000 jobs per month. Now as he begins his second term in office, the economy has turned around (albeit very slowly) and continues to improve.

While the post-college world will never be easy (not that we really would expect it to be), an improved economy does remove some of the worst of the inevitable anxiety graduates will face.

Often students would continue their education, whether or not they truly desired to do so, in order to avoid the eventual and soul-crushing job search in a dismal economic climate.

In a good economic climate, each individual is better able to make the best choices for their own future. We are better able to determine our own course through life when we are not struggling to pay off student loans and car payments by working two or three minimum-wage jobs.

Transitioning to the “real world” after years of education can be disorienting. It’s a great relief to realize that the economy is no longer a nightmare scenario.

It’s a great relief to realize that we’re going to be OK.

 

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