Buying Home Cheaper Than Renting in Most Cities
New York, NY, Aug. 16, 2011 -- Falling home prices combined with strong demand for rental property have made it cheaper to buy a two-bedroom home than to rent one in most major U.S. cities.
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, Permits Decrease in July
Washington, DC, Aug. 16, 2011 --New home construction fell 1.5% in July while applications for building permits also fell 3.2%, according to the Commerce Department.
Factory Output, Industrial Production Rise in July
Washington, DC, Aug. 16, 2011 --Factory output increased 0.6% in July, the Federal Reserve reported today. That's the biggest increase since the March 11 earthquake in Japan.
Valinge To Unveil New Locking Technology
Viken, Sweden, Aug. 16, 2011 -- Valinge said it has developed new locking technology that "may improve the locking function and decrease the costs."
Oriental Weavers Second Quarter Profit Declines
Cairo, Egypt, Aug. 16, 2011 -- Egypt's Oriental Weavers posted a 4.4% decline in second-quarter net profit, as raw material costs offset strong sales.
Lowe's Net Income Down, Sales Miss Forecast
Mooresville, NC, Aug. 15, 2011 -- Home center Lowe's reported second quarter net income was $830 million, or $0.64 a share, compared with $832 million, or $0.58 a share, a year earlier.
Faus Group Signs Midwest Distributor Welch
Calhoun, GA, Aug. 15, 2011 —- Laminate maker Faus Group has signed distributor E.J. Welch Company, of Earth City, Missouri, to service territories in the Midwest.
Builder Sentiment Unchanged in August
Washington, DC, Aug. 15, 2011 -- Home builder confidence held unchanged at 15 in August, according to the National Association of Home Builders.
Manufacturing Contracts Again in New York Area
New York, NY, Aug. 15, 2011 -- Manufacturing in the New York region contracted for a third straight month in August, according to the Federal Reserve Bank of New York.
Townsend Named VP of Sales at J&J Industries
Dalton, GA, Aug. 15, 2011 -- Brad Townsend has been named corporate vice president of sales for commercial carpet maker J&J Industries.