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A survey conducted by an executive search firm headquartered in Sarasota shows that the ghosts of the housing crash are still haunting U.S. homebuilders.
The most recent State of the Industry Building Materials Report, which polled more than 30,000 building industry professionals, revealed that many of the respondents are underwhelmed by the performance of their firms in 2011. A majority of the respondents said revenues were up from 2010 but below what they expected.
Housing starts have been shaky, so banks are practicing policies of scarce lending. Less credit means less opportunity for growth.
Employment in the industry also looks dismal, for a majority of firms polled do not expect to expand their hiring operations. An anonymous respondent summarized recent events: “I thought we might be turning the corner at the end of 2010. Looks like 2011 might be the same as 2010 or worse.”
Here is what other building industry insiders had to say:
• “No particular U.S. region has shown any remarkable recovery. Realistically, any sustainable gains in the second half of 2011 and fiscal year 2012 are expected to be in the 2% to 3% range.”
• “...Fiscal policy has burned off the upscale consumer on which we depend. Second-half prospects are not good.”
• “The industry continues to struggle. Lack of job security overall and financing will keep the industry from recovering significantly for the next 12 to 18 months.”
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