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Stone (usually granite) countertops and bathroom vanities both involve a finished slab of stone, usually polished but sometimes with another finish (such as honed or sandblasted). Industry standard thicknesses in the United States are 3/4" (2 cm) and 1.25" (3 cm). Often 2 cm slabs will be laminated at the edge to create the appearance of a thicker edge profile.
Click to enlarge.
The "pent-up demand" for a new bubble was intense once the dotcom bubble popped. Is it any wonder that we turned to stone as a long-term store of value?
Click to enlarge.
Craziest bubble ever!
Think about it. In 2006/2007, consumption of dimension stone was way up but real inflation adjusted prices were way down? That's not exactly typical bubble behavior.
It was like dimension stone was literally popping right up out of the ground.
The city streets are empty now [the lights don't shine no more]
and so the songs are way down low [turning turning]
A sound that flows into my mind [the echoes of the daylight]
of everything that is alive [in my blue world]
I turn to stone when you are gone, I turn to stone
Turn to stone when you comin' home, I can't go on
Source Data:
USGS: Historical Statistics
St. Louis Fed: Population
St. Louis Fed: CPI
5 comments:
34 years seems like yesterday . . .
My comment on Delong's blog:
DEBT IS NOT WEALTH!
: )
>some of that equity would still be there
Equity (from appreciation) is entirely zero-sum when it comes to housing. For you to cash out somebody has to pay more!
THERE'S NO NET WEALTH HERE!
We HELOC'd our way into the poorhouse, 2002-2006.
http://research.stlouisfed.org/fred2/graph/?g=2X9
Yes, it pulled us out of the tech recession. But it was a fake economy based on fiction and fraud.
http://research.stlouisfed.org/fred2/graph/?g=2VV
shows how once the magic home ATM failed everything came crashing down.
What does the chart look like for floor coverings like carpet and hardwoods?
I drove through north Georgia a few weeks back and although the carpet mills appeared to be in business, the businesses in the area that sold carpet most definitely were not.
Troy,
We HELOC'd our way into the poorhouse, 2002-2006.
We borrowed our way into the poorhouse, 1980-2011.
We trade deficit(ed) our way into the poorhouse, 1990-2011.
The poorhouse is looking like a clown car. How do we fit so much into it?
Anonymous,
What does the chart look like for floor coverings like carpet and hardwoods?
I don't have the data but...
August 5, 2008
Economy is bad for some, but good for the bankruptcy bar
Carpet makers are taking a beating in the current economy. On one side is the nationwide slump in residential homebuilding, taking away a key customer. On the other side, there has been a drastic increase in raw material costs, particularly the petroleum-related fibers used to make carpet, not to mention the fuel needed to run vehicles.
Lose lose.
Anonymous,
Note that there were multiple references to Georgia in that link.
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