The stock market, housing market, and economy as a whole are finally beginning to recover, which has given people hope that we are gaining momentum to an end to the current recession. Unfortunately, economists are not so sure that we should feel so optimistic quite yet.
The stock market has now doubled since 2009, and has shown great progress in the last six months, with some companies close to reaching record highs. The housing market is on a steady rise, and has gained up to 7 percent in the home price index in some areas.
Even unemployment has declined from 10 percent in 2009 to 7.7 percent this past February. Citizens are hopeful for a brighter economic future, as they should be if the economy continues in this way. However, there is no guarantee that this will happen, so we should not get our hopes up just yet.
We are all well aware that the stock market, housing market, and overall economy can make unexpected drastic changes that often negatively impact our country. This is exactly what economists are worried about. We cannot let our guards down by believing our money problems will soon be solved; the economy is uncontrollable and unpredictable.
For now, the economy seems to be slowly seeing positive changes, which is great news for American citizens who have suffered for so long. We certainly hope that these changes continue to occur, but we must always keep this thought in the back of our minds: the economy is a complicated system that can plummet at any time without a single warning.
We must continue to make smart decisions when it comes to our finances.
By: Brittany Peterson