Half of Mortgage Holders May Be Underwater
New York, NY, Aug. 6, 2009--Nearly half of U.S. homeowners with a mortgage are likely to owe more than their properties are worth before the housing recession ends, Deutsche Bank said.
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.
Flooring Chain Opens Ninth Wisconsin Store
Mount Pleasant, WI, Aug. 6, 2009--The new Carpet Warehouse here is the ninth flooring store for the family-owned Contract Carpets LLC.
Non-Manufacturing Industries Still Contracting
Washington, DC, Aug. 6, 2009--U.S. non-manufacturing industries contracted for the 10th consecutive month in July, the Institute for Supply Management reported Wednesday.
Initial Jobless Claims Less Than Expected
Washington, DC, Aug. 6, 2009--Initial jobless claims dropped more than expected last week, a government report showed on Thursday, boosting views that the labor market and the economy were stabilizing.
Retail Sales Remain Sluggish in July
New York, NY, Aug. 6, 2009--Retailers reported sluggish sales in July, with sales declining mostly across the board even as they've been able to raise profit forecasts on costs and inventory controls.
Supply of Homes For Sale Falls in July
Emeryville, CA, Aug. 6, 2009--The supply of homes listed for sale fell again in many U.S. cities last month as bargain hunters continued to search for foreclosed properties.
Analysts Raising Third Quarter GDP Estimates
New York, NY, Aug. 5, 2009--A better than expected GDP reading in the second quarter is prompting some economists and analysts to revise their estimates for third quarter GDP higher.
Lumber Liquidators Earnings Rise, Ups Estimates
Toano, VA, Aug. 5--Lumber Liquidators said second quarter net income increased 18.1% to $6.9 million, or $0.25 per share compared to $5.9 million, or $0.22 per share, a year ago.
Phased Remodeling a Growing Trend
Des Plaines, IL, Aug. 5, 2009--Residential remodels are no longer those once-in-a-lifetime projects, according to the National Association of the Remodeling Industry.
Construction Projects Waiting for Stimulus Funds
Washington, DC, Aug. 5, 2009--Infrastructure projects that could benefit from stimulus spending are moving slowly and many won't get started this summer.