...but it seems to be a start-stop-start pattern,” says Erickson. He says the financial woes in Europe may bleed over to the American lending markets and stifle project financing.
Demographics may play a role in the increased need for CM services. “In the short term, the market for agency CM is bad, but in the long term, it is really good,” says Peck. He says the retirement of the baby-boom generation will cause a significant “brain drain” on an owner’s capacity to manage complex projects in-house. This factor is going to open the market for sophisticated CM firms.