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September 1, 2022

Carpenters, landscapers, other small businesses feel the pinch from the slowing housing market

  • Homeowner spending for improvements and repairs is expected to slow for the rest of 2022 and the first half of 2023.
    • By MAE ANDERSON
    AP Business Writer

    NEW YORK — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties.

    Inflation was already causing some homeowners to delay big renovation projects as prices for building materials, fixtures and appliances jumped. More recently, higher mortgage rates have put a damper on the number of homes being sold.


     
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