How Housing Affordability is Affecting Flooring Choices in Builder, Multifamily

The American family is having a hard time with housing affordability causing the largest drop in builder confidence in over a decade. The price of money has gone up: with rising materials prices and rising interest rates comes increased market pressures. Floor Trends caught up with Jay Smith, vice president of sales, builder/multi-family division, Shaw, to find out how builders and multifamily developers are navigating business today. 

“The feeling today was quite different than the way we were feeling in in late Spring,” Smith said. “We've seen a tremendous change in the economic landscape. We've seen a tremendous change specifically in our space more change in Builder than in multifamily. I would say, and that's largely due to one word, and that word is affordability.”