High Interest Rates & Home Shortage Impacting Rental Investors
New York, NY, September 20, 2023—"It isn’t just regular Americans who are having trouble buying houses these days,” reports the Wall Street Journal.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
Housing Starts Down 11.3% in August Driven by Multifamily
Washington, DC, September 19, 2023-Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,283,000, 11.3% below the revised July estimate of 1,447,000 and 14.8% below the August 2022 rate of 1,505,000, according to the U.S. Census Bureau.
Stonepeak to Invest $10 Million in Tennessee Production Facility
Crossville, TN, September 19, 2023—Throughout 2023, Stonepeak Ceramics has embarked on a $10 million comprehensive program of capital investments with a focus on all aspects of the Tennessee production facility.
Shaw Forms Strategic Partnership with Classen Group
Dalton, GA, September 18, 2023-Shaw Industries announces a strategic partnership with the Classen Group, a hard surface flooring manufacturer based in Germany that offers PVC-free solutions for commercial and residential environments.
Fed to Hold Rates Steady This Week in Hopes of Achieving a "Soft Landing"
New York, NY, September 18, 2023—"On the eve of recessions in 1990, 2001 and 2007, many Wall Street economists proclaimed the U.S. was on the cusp of achieving a soft landing, in which interest-rate increases corralled inflation without causing a recession,” reports the Wall Street Journal.
Builder Confidence Slid 5 Points to 45 in September
Washington, DC, September 18, 2023—Builder confidence in the market for newly built single-family homes in September fell five points to 45, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
Shaw Presented with 2023 USGBC Leadership Award
Washington, DC, September 18, 2023-The U.S. Green Building Council (USGBC) announced the recipients of its 2023 USGBC Leadership Awards, with Shaw Industries among them.
TISE Honored at Trade Show Executive's Gold 100 Awards Event
San Diego, CA, September 18, 2023-The International Surfaces Event (TISE) was named The Fastest Growing Gold 100 Show by Blended Growth in 2022 and Best Hybrid Show in 2022 by Trade Show Executive magazine.
ISE Logik Names Harry Lubitz Architectural/Specification Director
Theodore, AL, September 18, 2023-ISE Logic announced that Harry Lubitz is joining ISE Logik as architectural/specification director.
Consumer Sentiment Declined 2.6% to 67.7 in Early September
Ann Arbor, MI, September 15, 2023—Consumer sentiment declined 2.6% to 67.7 in September, according to preliminary results from the University of Michigan Survey of Consumers.