Let’s talk houses … better yet, let’s just say residences. On almost every street I drive, I see multiple houses for sale, and some have been on the market for more than a year. Watch just about any HGTV series (Sell This House; Buy Me!; Designed to Sell) and they’ll tell you, no house should be for sale for that long.
You also know, I am sure, that things aren’t getting better. According to the most recent (November 19) National Association of Home Builders/Wells Fargo Housing Market Index, builders have yet to see any significant change in the housing market.
But on a slightly better note, the NAHB also reported on November 20 that a “bounce-back” in multifamily housing helped bring total housing starts up 3.0 percent in October to a seasonally adjusted annual rate of 1.229 million units. That sounds like pretty good news for the glass industry, since condos typically have a lot of windows and glass.
Still, housing starts are below what they were a year ago. But what can you do? Some window companies, traditionally supplying the residential market, have begun to take on more work in the commercial realm. The same is true for some glass suppliers that have typically supplied the residential market; now they are selling more to the commercial side. Other businesses, such as shower door businesses, stay busy with remodeling projects. Be creative and you can pretty much always stay busy.
Some companies may even choose to diversify and take on a new business venture during slower periods. For some, diversification may even lead to a new business department, even after your regular market returns. Let’s think outside the box. Tell us about some of your diversification ideas or how you stay busy during slow business periods.
Monday, November 26, 2007
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