Flooring renovations are often triggered by the building of new homes and facilities or by the sale or purchase of buildings. The purchase of a new home inspires someone to install all new hardwood flooring. New residential construction during 2000 to 2005 generated demand for massive volumes of new carpet. However, the economy has constricted upon us all. In response, new construction has nearly ground to a halt. Foreclosures and bankruptcies have ruined the credit of many and raised the credit scores required for loans. So, the buying and selling of property has plummeted.
Today, we spoke to a young lady whose family has been in the flooring business for 24 years. They are closing their doors at all locations. They received 90 percent of their business from builders. When new construction virtually died, they unsuccessfully attempted to shift toward retail residential. Another of our friends who binds carpet (like us) has also been crushed by this sluggish economy. These stories are very regretful.
Being part of a family owned company, we relate to our friendly competitors. The flooring companies which survive will be those of the best reputation and with the strongest liquid capital positions. What does this mean for consumers of vinyl, ceramic, stone, etc.? We are offering the most aggressive pricing in our company’s history. Our reduced pricing is compounded by better prices from the flooring manufacturers. Now is a great time to receive wonderful pricing on your new flooring.
We are very grateful for our customers for keeping us busy.