Dad Says..."It's loosening up a bit..."

Posted by Expert Gadget Reviewer on Thursday, 25 March 2010

OK, take note: I'm officially calling the industry bottom as of today; March 24,2010. Why today... a couple of reasons:

  • ABI Moves Positive: Following a drop of nearly three points, the Architecture Billings Index (ABI) nudged up almost two points in February. “We continue to hear that funding dedicated for construction projects in the stimulus package has not yet been awarded, resulting in a bottleneck of potential projects that could help jumpstart the economy,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.
  • House Passes More Jobs Creation Legislation: The bill would would lift all capital gains tax on small-business stock bought before 2012 and expand a tax deduction for business start-up costs. The measure also would expand subsidies for state and local construction bonds which has already funded $78 billion in state and local construction projects.
  • My Dad... To say my father has been a perma-bear over the past 12 months would be a huge understatement -- TODAY, for the first time in over a year, my father stated "it feels like things are loosening up a bit..."
I'll spare everyone the crass joke that my Trader friends make about people who pick bottoms, but I'll stick my neck out and drop the marker in the sand that today is the day things start turning up.