Recession Indirectly Affects Other Large Industries

As this nation remains in one of the biggest recessions in the past forty years, there are many businesses that are tremendously affected, but go unpublicized.  Some of the major issues have stemmed from the financing and loan programs, stock market, banks and the nation’s property value decrease.  All of these industries are inter-related in some way, but many major industries that affect millions of home owners are not far off.

At the center of the housing market and property value collapse is Phoenix, Arizona – one of the hardest hit locations in the U.S..  Loan applicants are quickly finding out that their home is valued at hundreds of thousands of dollars less than what it was just 2 years prior.  Lack of equity has caused some residents to just walk away from their homes, in fact, bank foreclosures are higher than they have ever been. 

For those homeowners who are not affected by unemployment, housing market decline, and stock market woes – they quickly find out they are incorrect.  Many residents who are looking to improve their property in some way often require financial loans of some sort.  Local banks and credit unions can usually provide this type of home improvement loan.  Over the past two years, these loan programs have not been available for prospecting buyers of home improvements such as home remodeling, swimming pools and landscaping.

Since up to 65% of swimming pool owners require financial assistance or loans, Phoenix swimming pool builders have been one of the hardest hit industries.  Without the aid of financial loans, these buyers are either unable to buy a swimming pool, or end up buying a much smaller, less-expensive pool.  Phoenix pool builders have taken a huge hit, often 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, Many pool contractors are generating extra money.  Some general construction businesses and home remodelers have switched entire industries, trying their hand at completely different fields of work.  In an attempt to produce extra income, many Phoenix Landscape Contractors are expanding into fields such as water features, travertine patios, Phoenix Ramadas & Pergolas, and outdoor kitchens.

Some intelligent contractors have figured out the diversity game many years prior to this industry decline, such as Unique Landscapes and Custom Pools, a pool and landscaping Phoenix builder.  Unique is able to offer its customers many different options and services in the home improvement industry because of it’s diversity as a Phoenix pool contractor, general contractor, and landscaping contractor.  By offering many different components of our swimming pools and landscape services to our clients, we’ve been able to generate revenue during these tough times – simply by diversification.  However, the major drawbacks have been the simple fact that these financing programs are simply not available to the average customers.”

“It’s difficult to think about all the money that was given to banks just a year ago for these types of loans, and now it’s near impossible for our customers, who want to spend money, to get this assistance” remarks owner Chris Griffin, of Unique Landscapes and Custom Pools in Mesa, AZ.  Maybe it’s time for the government to look a little further into some of the struggles of the smaller companies that are greatly affected by this struggling economy.  “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 Phoenix pool financing is getting better”.

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