Small businesses feel the pinch from slowing housing market
Bill Albritton of Bill Albritton Cabinetry in his workshop in Charlotte, N.C., on Aug. 24, 2022. Albritton is booked out 30 days in advance, compared to the usual 90 to 160 days. Meanwhile, his costs have gone up by more than 30% across the board. Plywood he uses jumped from $72 to $140 a sheet around Christmas. It has gone back down to $85 a sheet, but that’s still higher than it used to be. And he has trouble finding hinges at any price. (Rick Chastain/Courtesy of Bill Albritton via AP)
NEW YORK (AP) — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties.
Inflation was already causing some homeowners to delay big renovation projects as prices for building materials, fixtures and appliances jumped...
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