6 decades, there are many industries that are adversely affected, but go unpublicized~Many industries and local businesses are suffering indirectly because of this nation’s economic recession~The biggest recession that U.S. residents and companies have seen in the past 60 years continues to indirectly affect many local companies}. The housing market and stock market have been some of the most talked about issues, while the banking and loan business follows a tight second. Many of these markets are inter-related in some way, but many major industries that affect millions of residents are not far off.
At the epicenter of the housing market and property value collapse is Phoenix, AZ – one of the hardest hit locations in the nation. These buyers all have property that has greatly depreciated in value over the past 2 years (sometimes being down twenty to fifty percent). Home foreclosures are on the rise, repossessions are common place, and people are just walking away from their homes because of loss of equity.
Just when Americans think they have not been affected by this economic recession, they find out they are mistaking. Many homeowners who are considering improvement to their property in some way often require financial assistance of some form. This home improvement loan generally comes from a local bank, credit union, or credit agency. Swimming pool, landscape, and home improvement companies have not had the fortune of getting it’s prospecting buyers approved for these loan programs.
The pool and landscape industry in Phoenix has been one of the largest businesses influenced, since financing a swimming pool was the obvious choice for over sixty% of swimming pool customers. Without the aid of financing, these potential customers are either unable to purchase a pool, or end up buying a much smaller, less-expensive pool. Arizona pool companies have struggled greatly with the downswing in the economy and lack of financing – sometimes even closing their business, down-sizing, or diversifying into other industries. By offering a wider range of construction services, such as pool remodels, landscaping, and hardscaping, Intelligent pool and spa companies are generating additional income. General construction businesses have completely gone into other fields, such as sales, marketing, or consulting. In an attempt to earn additional money, many Arizona Landscaping Contractors are expanding into fields such as water features, flagstone patios, Phoenix fireplaces , and outdoor kitchens.
One pool and landscape Phoenix builder, Unique Landscapes and Custom Pools, has figured out the technique of offering many assorted products to customers years ago. As Phoenix landscape and pool builders, along with a general contractor license, Unique Companies are able to provide its customers with many facets of residential landscaping and swimming pools. By offering many different aspects of our swimming pools and landscape services to our clients, we’ve been able to make things work during these challenging times – simply by diversification. The challenges have come about with the inability for these motivated customers to gain these home-improvement loans or financial assistance.”
“It’s tough to think about all the money that was given to banks just a few months ago for these loans, and now it’s almost impossible for our customers, who want to buy our products, to get this money” remarks business owner Chris Griffin, of Unique Landscapes and Custom Pools in Mesa, AZ. It would be great for the economists to offer a little advice for the struggling construction companies, who are also suffering in this recession. “I don’t see the light at the end of the tunnel yet, but I can tell it’s there….” claims Griffin, “Phoenix pool financing is getting a little better”.
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