Hurricane Harvey hammers Houston home builders
The nation's largest new home market faces a major reset.
Hurricane Harvey is wreaking havoc on residents and businesses. Add home builders, who only just started to recover from the oil-price shock, to the list of those facing a long road back.
Houston is the nation’s largest market for newly constructed homes, and the massive storm, which is dumping an unprecedented rain total on the area, is going to flummox the construction industry there for some time.
Carl Reichardt, who covers home builders for BTIG, wrote Monday morning that he expects “substantially delayed home closings and a dip in new orders in the region.”
There are a few reasons for the interruption. Transportation and logistics will be challenging, for one. Soggy ground will need time to dry before development can proceed. And, would-be homeowners and government agencies will have other priorities.
Click here to read the entire story.
Source: MarketWatch
CONTRACTOR SUPPLY MAGAZINE
The October/November 2024 of Contractor Supply magazine is here!
Our cover story, A Rewarding Passion - Dale Hahs II, third-generation of Denver's AIS Industrial & Construction Supply, is STAFDA's incoming 2025 president.
A Special STAFDA section featuring a welcome address, an agenda, session previewss by presenters and much more. Also in this issue are our Industry Updates on: Lifting, Moving and Material Handling; Lasers, Levels and Measurement; Hand Tools; Cordless Power Tools; Drill Bits and Cutting Tools; and Toolboxes, Bags and Belts.
This digital edition, sponsored by BECK AMERICA Inc., is fully searchable and contains live links to every advertiser and new product listing. Click away!
| Read the Articles Read the Digital Edition |
