Will housing woes slam Sherwin-Williams?
Whenever people complain about the federal bailout money being given to prop up the mortgage and housing industries, I remind them of how important housing is to our economy.
It’s no coincidence, after all, that our entire economy began collapsing as soon as housing prices started to fall, is it?
And it’s not just homeowners, homebuilders, real estate agents and mortgage loan officers who suffer when the housing industry tumbles. There are many, many ancillary businesses that struggle, too.
Look at publishing. How many magazines are devoted to housing, home improvement and home decorating? They’re all struggling today. How about the owner of your local hardware store? You can bet the housing slump is hurting him, too. Landscapers are grabbing for any bit of business they can get. And even those companies that make regrigerator magnets for real estate agents? Yes, they’re struggling to stay alive, too.
And here’s one more bit of proof that the housing industry is vital to the U.S. economy: This story in Reuters says that paint giant Sherwin-Williams may see its stock value decrease in the near future as the housing slump continues.
The company, according to the story, has already seen a sharp drop in the prices of its higher-end brands such as Sherwin-Williams, Dutch Boy and Pratt & Lambert.
See? The housing industry’s reach is far and wide. It’s important to our national economy to keep this industry as strong as possible. Why do you think so many people are praying that housing prices finally begin to rebound, after months and months of falling, in late 2009 or early 2010?
