Update: the number of construction loan requests on my desk has tripled since November. These requests are from MAJOR R/E developers, not the lower tier or no name firms who don't have a clue. They are for Office, Hotel, and Residential Apartment properties across the country... not just in the major cities.
We may see a pullback in the markets for consolidation, but after that... we are going higher... way higher. The ball has just begun to roll down the hill. Forget ECRI, they can look at all the spreadsheets and reports they want... I look at what I see on my desk. That is where I find hard evidence of the recovery.
Sure, Iran or Greece could toss a wrench into things... but if folks went short in the mid 1200's waiting for those things to happen... they may have to wait quite a bit longer.
Good luck everyone
-Dan