More housing fallout! Furniture World Magazine magazine and Smith Leonard Accountants & Consultants report from recent survey of U.S. residential furniture manufacturers and distributors …
- New orders for first 10 months of 2008 are 12% percent lower than the same period a year ago after falling 4% in 2007 vs 2006.
- 73% of surveyed participants report orders off 20 percent or more.
- Shipments for the first 10 months were 11% below last year after falling 5% in 2007.
- October order backlogs were 24% lower than 2007 levels.
- Factory payrolls were 24% lower in October 2008 vs. year ago.
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- Tell us best town for north county housing?
- Only 4% of O.C. buyers using adjustable mortgages
- House bargains hit Villa Park
- Ex-Realtor economist did ‘everything they wanted me to’
- O.C. has 2-year supply of million-dollar homes for sale
- Glass elevator highlights $34.5 million house
- Emerald Bay ’seaside villa’ to have 12,000 square feet
- New Emerald Bay home to be worth up to $50 million
No surprise, new furniture would rank pretty low on Maslow’s Triangle right now (unless you’re on the County Board of Supervisors).
Seems like furniture stores have a hard enough time staying in business even when times are good (maybe because it’s marked up so much).