Appliance makers and other suppliers to the housing industry might feel the ripple effect of the housing downturn through the end of this year, according to a Bloomberg report.
Sales of new and existing houses fell nearly 10 percent last year, though many observers believe the worst is over for the sales decline. The industry, which accounts for about 23 percent of the
However, furniture manufacturers and other industries that rely on house sales will likely be downsizing for months to come. Total job cuts across the industry could rival levels not seen since the 1991 housing slump, said Raymond James & Associates Managing Director Paul Puryear.