Reply #30: Yes, in Texas we are seeing some new construction that was unexpected. [View All]

[TexasObserver]

Because interest rates are so low for many businesses and consumers seeking construction financing, and because so many in construction are out of work, there is a mini boom of new construction in Texas right now. It's not enough to get all the workers back to work, but it is enough to help keep struggling construction businesses together, working with skeleton crews.

The business or the consumer who can afford to borrow and build, and who can afford the debt service required, is taking advantage of the downturn to build right now.

These are hopeful signs. Anything that keeps people working is good. These are small companies - mom and pop businesses - that are staying afloat because they're small enough to adjust to a tighter economy.