According to an article on Yahoo Finance yesterday afternoon, the new home constructions market is taking a beating and will slow any potential economic recovery.
Here is a link to the full article:
A decline in the number of new home construction projects will clearly impact the sale of fasteners in North America. The upside, however, is that with less people buying new homes that means more people will be staying in their existing houses. And for anyone out there who has a home, well, you know that repairs are an ongoing business.
As such, the fastener industry should see an increase in usage of Do-It-Yourself type fasteners like Deck Screws. We are already seeing a surge in the demand for deck screws well before the spring season, with clients clearly indicating their plan to fix their old backyard decks.
Ask around and you’ll find that more of your friends and clients are fixing their old stuff rather than buying new.
When faced with a recession and rising prices, I think that is to be expected.