Thursday, January 21, 2016
Calculated Risk - AAII billings end year on positive note. So apparently commercial real estate hasn't collapsed.
I wonder how correlated commercial real estate construction is with investment? Because there's a difference between an investment-led recession and an inventory correction, and I think architectural billings would be a good clue as to which is happening right now.
But hey, you guys keep selling. Try real hard to break through that H&S neckline, guys, we need that extra selling to provide a good strong base for the next multiyear 50% upmove.