A recent survey of 80 senior execs of KPMG LLP revealed a bearish sentiment on the their industry and the economy as a whole until 2014.
46% of respondents to the survey said they will focus on cutting costs and holding onto profits into 2014. What were the reasons given for this word of “caution?” The Euro crisis, high unemployment, and the uncertainty of healthcare costs into the future were all named as the top reasons by respondents of the survey. What is your opinion?
(Source: http://blogs.wsj.com/developments/2012/07/24/caution-returns-in-commercial-real-estate-survey-finds/ )
I agree. Residential will kick up first, perhaps in the spring as it seems it has already strated in many areas.
As to surveys, I saw one where the question was asked if the economy would get better under BO or Romney, BO got 46% and Romney got 42% which is pretty much along party lines leaving that 12%, +/- uncertain, seems there is not going to really be much difference between the two in the short term, couple more years, if any. It will be a slow process...... so I agree with bearish as well.