Home Builders' Cat Walk - Remodeling

The decline in the real estate market is having a tremendous impact on contractors also.

"In an effort to curb losses in the stagnant real estate market, many local home builders are diversifying their portfolios to include remodeling. And it's causing a few problems. Davis, an 18-year-old remodeling company, has reported the firm's business has dropped by nearly 25 percent this year since home builders entered the market. So far, the company has already laid off seven employees."

"We are way off," Davis said. "It's really cutting in significantly. I knew this slow down was going to come. But I didn't take into consideration other builders getting into remodeling."<sup>1


1</sup>http://www.theledger.com/article/20071124/NEWS/711240318/1001/BUSINESS