Re: Sign the recession is running out of steam???... - Saab General Bulletin Board - Saabnet.com
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Re: Sign the recession is running out of steam???...
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Posted by chris [Email] (more from chris) on Thu, 19 Feb 2009 07:54:39 Share Post by Email
In Reply to: Sign the recession is running out of steam???..., MI-Roger [Profile/Gallery] , Wed, 18 Feb 2009 14:12:41
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I am an architect whose business is 99% residential design for second and third homeowners. This past fall, somewhere around the middle of October, all of the work in our office came to a screeching halt. People with signed contracts backed out of the projects that they wanted to proceed with. We laid-off one designer and have since adopted a 4 day work week for the rest of the office. For about 3 months, our phones were silent, not even a telemarketer calling to sell something. Since the start of February, the phone has started ringing again. People who have the money, still have it and while they are cautious about that is going to happen, it looks like they are starting to not be so afraid of the current situation. Add that to the fact that contractors, at least in our area, are extremely slow, so homeowners looking to renovate, add on, or build new, are finding that just like in the car dealerships, they can negotiate a much better deal for the construction of their projects. Are we out of this, not by any stretch, but I am really hoping the faint light I see ahead is not a train.

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