Reported about 1 year ago
High-interest rates have caused a slowdown in the housing market, prompting a leading decking manufacturer, Trex, to invest $450 million in expanding production capacity in Arkansas. They are focusing on the Sunbelt market and using recycled materials to produce advanced composite decking materials. Despite a decrease in consumer renovation budgets, Trex believes homeowners will opt to expand their existing homes rather than move, anticipating a resurgence in the renovation market when interest rates drop.
Source: YAHOO