Alan Johnson, founder of Johnson Associates, said many in the industry had been anticipating a rebound. This year, though, those hopes have been fading.

“We kept expecting next year will be the year,” he said. “And it hasn’t really happened — and I don’t see it for the next three to five years.” He added, “It’s hard to see the swell of demand that will bail us out here.”

New York Times / November 8, 2015