I’d really like to hear from you. The recent economic outlook is dismal. It seems I read a new piece of bad news each and every day. Like Monday’s article from the New York Times reporting 62,000 more announced layoffs across the nation and around the world. It seems that it’s going to get worse before it gets better, unfortunately. As reported by CBS News, President Obama “pledged a recovery plan ‘that is equal to the task ahead.'”
I just listened to a seminar by an economist for the Association of General Contractors (AGC). The seminar depicts that though the beginning of a turn around is forecasted by late summer or fall of this year, state and municipal budget may economically lag behind because they have to operate from revenues generated– and the economy has to turn around before that can happen. That is, unless the stimulus package provides funding for state public projects. But any jolt to the economy soon will have positive results, in my opinion. Beggars can’t be choosers, right?
On a more optimistic note, we continue to receive calls from some clients who are interested in getting their projects designed and “shovel ready,” so they can take advantage of the low building costs before the “turn around,” and before increased building costs are expected to occur. The economist for the AGC predicts lower costs in some construction categories of -4 to 0% range for 2009 and price spikes of 6 to 8% in 2010.
To many, this may seem impossible to even consider. To others, I hope this may be a piece of good news in an otherwise dreary situation.
Please write to me and let me know how you’ve been affected by these conditions. What have you had to scale back on? Do you feel optimistic?