We dealt with a big debt problem last year. We sold our home and paid off our debts.
This wasn't an easy decision, but it came to the point that selling our home was a better choice for several reasons.
Now, a year ago it was not so obvious that the economy was going to have some troubles, but one thing nagged at me quite a bit. On the way to work there was a new facility opening it. Richie Brothers Auctions was converting a huge field into an auction facility.
The sign that was there before it offered 100+ acres for sale. They put a big fence around and built a couple of buildings that they could drive the equipment through that would be bid on.
The entire facility is designed around auctioning off heavy equipment, like the stuff that is used to build homes. We don't drive past it very often any more but this time it was interesting to see a fire truck and street sweeper on display, next to all the earth moving equipment.
They obviously saw the potential of the housing market crisis and are in a position to make use of it.
What are you seeing in your industries and how they relate to the economy?