I can’t take issue with the author’s data.  However, an important variable seems to be absent.  It is my experience with the capital intensive nature of construction projects, that most owners need to finance their construction projects.  As we all know, it is the ability and willingness of the financial institutions to lend money that is one of the primary issues facing the economy.
Given this reality, my analysis is less optimistic.  The rate at which design firms in my area (both architectural and engineering that work across a variety of market sectors) have been shedding staff is alarming and still on-going.  This will likely translate into a significant construction lull by the end of the first quarter next year.
I hope Mr. Haughey is correct, but it appears to be a much deeper problem to me.