Friday, March 16, 2007

It has been a long, busy week. We got a little taste of spring earlier this week with sunny, 70-degree days, but that's faded away and now things are once again "normal." Thinking about the weather and returning to "normal" conditions got me thinking about the condo market (stay with me here, I have a point).

Like many in the industry, I've done my fair share of traveling over the past couple of years, hitting most every major city a time or two, from Chicago to Vegas to L.A. and San Diego. Asides from the fabulous shopping these cities each offer, they also have something else in common--they've all been experiencing a great deal of construction growth, including condo projects. Good news for the glass industry, right? Condos certainly need windows so occupants of those high-rise, high-end homes can see the cities' incredible views.

Mid last year, though, the condo market began to taper. Whether it was a case of supply and demand or increasingly expensive construction costs some of those anticipated condos were stalled; others became offices instead. Either way, residential housing across the board slowed. But glass companies with which I've spoken say they really have not seen or felt the effects of this slowdown.

I asked an economist about this and he said it's not that the condo market is dead ... there's still a need and a demand, it's just that things are returning to more "normal" conditions (kind of like the weather this week.)

OK, so maybe me weather-condo comparison was a stretch; I really just wanted some way to bring the warm, sunny days back, if only in my mind.

What has your company seen within the condo market? Send me an email and let me know.

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