Commercial Flooring Report: Vol. 15, № 1 (Challenges of 2008)
Volume: 15 | Issue: 1 | Download
The challenges of 2008 have not vanished with the passage into a new year and, in my opinion; the difficult times are going to be here for awhile. The commercial market is seeing a slow down right now with less work in the pipeline for 2009, from the latest figures on average 15 to 20%. With projects put on hold due to fear of releasing funds or tight credit, falling tax revenues and an overall slow down in business, everyone is affected. Even if a project is funded it may be shelved because of the psychological effects the economic conditions have on entities and individuals.