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The State of Private Practice
I only speak from my own experiences and the locale from which I practice, but, I’m not seeing work pick up. Many of the other firms in my area seem to echo the same.
I know a few firms that have picked up some municipal work, but the pickings are small.
I gave a seminar to a group of real estate agents last month. There was only standing room only with approximately 135 attendants. This was a training session for a large real estate brokerage, done in conjunction with a title insurance company and an appraiser. My session was 50 minutes long and a 20 minute Q&A.
There was a lot of interest and lot of questions. BUT the end result was very small as it pertains to securing any new work. Two small boundary surveys resulted from all this and one was for a personal property for an agent (who wanted a discount).
Building and construction is all but nonexistent and the lowballers are getting all that work. I’m afraid the second 1/2 of 2010 is going to be real real bad.
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10 Replies
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Robert Reich and many other Economists are saying that we will be entering a “Double Dip Recession”:
The economy is still in the gravitational pull of the Great Recession and all the booster rockets for getting us beyond it are failing. The odds of a double-dip are increasing.
In June the nation added fewer jobs than necessary merely to keep up with population growth (private hiring rose by 83,000 after adding only 33,000 jobs in May). The typical workweek declined. Average earnings dropped. Home sales are down. Retail sales are down. Factory orders in May suffered their biggest tumble since March of last year.
So what are we doing about it? Less than nothing. The states are running an anti-stimulus program (raising taxes, cutting services, laying off teachers, firefighters, police and other employees) that’s now bigger than the federal stimulus program. That federal stimulus is 75 percent gone anyway. And the House and Senate refuse to pass another one. (The Senate left Washington for the July 4th weekend without even extending unemployment benefits for millions of jobless Americans now running out.)
http://www.huffingtonpost.com/robert-reich/slouching-towards-a-doubl_b_634769.html
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if you think its bad now wait till next yrs taxes click in–alot of businesses will fold —take a ride on Colfax Avenue west–dead as a bad fart, they kicked the jews out and built up around the mexicans, now you can see where diversity takes you economically—this has just begun we are sill in the good times. wait till 2012 if we make it that far without a world war—tdd
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Work is hit and miss in NC , We dont have much at the moment . But its been like that for 2 years sit around and wait for the work. It is coming in Less frequent
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> if you think its bad now wait till next yrs taxes click in–alot of businesses will fold —take a ride on Colfax Avenue west–dead as a bad fart, they kicked the jews out and built up around the mexicans, now you can see where diversity takes you economically—this has just begun we are sill in the good times. wait till 2012 if we make it that far without a world war—tdd
Now that’s some sort of expression I’ve never heard before – LOL
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The State of Reality
For sure the Dems are late with the budget and will push it to beyond this years elections. Then early next year will push for a VAT and any and all types of tax increases, all justified by an insurmoutable deficit. 2011 will be the beginning of the Biggest Depression, Bigger than the 1930’s. It WILL take another WW to turn things around, you can bet on it. Get ready for $5 then $10 per gallon gas. Start now stockpiling seed corn. Your piddling million dollar estate won’t be worth a hand full in a few years.
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The State of Reality
Private sector works has started to increase here in Hawaii and the unemployment rate, while still too high, is starting to go down a little. The stimulus funds provided some highway work during the slow times, and the tax cuts were a small but welcome break. State workers have had 2 furlough days a month for the last year, and will be also for the next year to help cut state expenses. Everyone’s trying to hang in there…
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Ted, Boy I know that.
We in private practice are between a rock & a hard place.
But Ted you’re OK, you’re retired.Are the small firm I know (20 employees and less) are less half the size they were 1.5 years ago. And a couple of firms are down to the principle and a single helper.
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TDD
TDD is working on calculating the difference between his paychecks from when he was a Federal employee and minimum wage so he can mail Obama a check because that’s all he was worth then.
I expect it will take a while.
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Lowballers
“…and the lowballers are getting all that work. I’m afraid the second 1/2 of 2010 is going to be real real bad.“
Lowballers
What can you do? You’re told the winning bid and go, how can they possibly do that much work for so little. We have done a fair amount of river work and know what a time consuming process it can be to adequately research, plan, survey, monument, map and proof a job involving multiple sections and river channels, accretion issues, alleged use lines, the works. We can model our time and materials requirements based on previous work of a similar nature that factor in the variables. And to be underbid by not just a sneaky little but by huge percentages… Leaves a guy speechless and wondering, what do they know that we don’t.
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The Bush tax cuts did nothing but put us further into deficit spending, tax cuts didn’t create jobs and further tax cuts won’t do anything but increase the deficit even more.
And come the next election cycle, more conservatives will get into office, and they will be pushing for drastic spending cuts, which will stifle the economy even worse than it is today, and kill even more jobs than we’ve already lost.
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