Mike Inselmann, President of American Metrostudy, spoke earlier this month to the Houston-area builders and gave a positive outlook for 2011. The highlights of Inselmann's speech are:
-The recession is over. We can only go up from here.
-Things will start looking up in the 2nd quarter.
-Continued low interest rates will drive home financing.
-Good outlook as the tax bill passed.This tax-extension law will keep tax brackets and capital gains rate at existing levels for 2 more years and maintains other key real esteate provisions such as the 15-year cost recovery period for leasehold improvements, 25% depreciation recapture rate, etc.
-Corporations are lean and mean.
-The price of oil should reach $100/barrel by the end of the year.