A burned out hull, or a gold mine?

The recession versus not recession debate continues.

It seemed to me that the recession side was gaining ground until Q4 growth came in at 2.9%, beating estimates. Still, the Conference Board?continues to?predict a slow-down in 2023.

So, this made me think: when is a burning house a good thing?

More on that in a second.

Key Updates

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Whether something is good or bad depends on perspective.

Now, many people would think that a Zillow listing of a mansion with flames coming out of the roof would be a reason?not?to?buy.

A burned-out house seems to be unequivocally bad, like a recession.

And then along comes someone like Mike Thakur, who saw the burning house, called his real estate agent and made an offer.

When is a burnt house an irresistible gold mine??

Mr. Thakur has a plan: he will create a Youtube channel documenting the house’s renovation. He figures that he’ll be able to capitalize on the popularity of the burning house on Zillow to create a following and make money.

One person’s trash is another’s treasure.

And a recession, it turns out, isn’t bad for everybody. Certainly, it is painful for many, but others do quite well. While the economic house is burning, they make their fortunes.?

According to Bank of America, the top 8 business areas in a recession are:

1.?????Candy (yep).

2.?????Repairs (fix the old, rather than buy new).

3.?????Childcare (because children don’t go away).

4.?????Niche food stores (small luxuries).

5.?????Freelance and temp work.

6.?????Static businesses (like funeral homes).

7.?????Health and fitness.

8.?????Sin industries (think alcohol and casinos).

So maybe we should all be starting candy businesses... it could do well, and we can eat the leftovers!?

But the actual point is that while burning houses and recessions sound bad, somebody will turn it into an opportunity.

So, how can you take advantage of a possible recession?

Also, remember that no matter how the economy swings, we all still have to file tax returns. Please get us your tax documents as soon as possible and keep your mind free for your new candy business.

From Around The Web

Want to read more about the Thakur family plans?

They were looking for something to "renovate and make their own," perhaps not counting on quite so much rennovation, but it will be interesting to see how well the YouTube channel does. Read more?here.

Here is the full article from Bank of America.

They came up with the list of eight industries that thrive in a recession. So if you want to learn more about them, you can find the blog post?here.