Home Prices Post Largest Drop in 16 Years
New York, NY, December 26, 2007--U.S. home prices in October posted their largest monthly drop since 1991.
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.
Consumer Confidence Rises in December
New York, NY, December 27, 2007—Consumer confidence was up in December.
Durable Goods Orders Up Slightly in November
Washington, DC, December 27, 2007—Orders for durable goods from U.S. factories rose less than expected in November.
Jobless Claims Rise to Two-Year High
Washington, DC, December 27, 2007--First-time jobless claims were up 1,000 last week while continuing claims reached the highest level in more than two years.
Mortgage Apps Fall in Week, but Higher Than '06
Washington, D.C., December 27, 2007— Mortgage applications fell 7.6 percent from the previous week, according to the Mortgage Bankers Association weekly survey. However, it was up 9.9 percent compared to the same week a year ago.
Molyneaux Tile Helps Customers of Defunct PA Chain
Pittsburgh, PA, December 27, 2007--A former competitor of a Pittsburgh-area carpet chain that closed suddenly before Christmas has come to the rescue of the chain's stranded customers.
Credit Crunch Derails UK Carpetright Takeover
United Kingdom, December 26, 2007--Carpetright's chief executive, Lord Harris of Peckham, has scrapped his potential takeover of the UK retailer because of funding woes related to the U.S. subprime mortgage problems, according to the BBC.
Foamex Moves To Reduce Debt
Linwood, PA, December 26, 2007--Foamex International Inc. said that by December 30, it will pay $40 million toward debt retirement.
Health Supplies Website Touts Vinyl for Hospitals
Lawrence, KA, December 26, 2007--Vinyl flooring is being touted as a way to prevent the spread of infections in hospitals by the website Healthcare Equipment and Supplies.
Pittsburgh Carpet Chain Closes Unexpectedly
Penn Hills, PA, December 26, 2007— Prizant's Carpet, a 10-store Pittsburgh-area carpet chain, closed down shortly before Christmas.