Not a huge surprise since they mostly make and sell counter tops for new houses. With 19 million empty houses, unless there is a huge influx of new immigrants, demand for new houses will be very slow for at least a decade.
Posts Tagged ‘housing’
Bankruptcy Watch – Masonite
Wednesday, March 4th, 2009Bankruptcy watch – John Laing Homes
Friday, February 20th, 2009Last I heard, there are currently 19,000,000 empty homes in the United States. I think we can stop building new homes for a while, unless we expect 100 million Mexicans to flood over the border some time soon.
Two curious things about this story – the AP “slugged” the story as Bangalore, so apparently the AP has “outsourced” editing stories about the United States to cheap labor in India. Perhaps the more interesting thing is that this company making homes in the United States is owned by Dubai.