Looking for value in hometextiles

Spending on home textiles is influenced by the housing market,so it is not surprising that the downturn in the housing market has significantly affected consumers’ attitudes and shopping habits when it comes to these products. The U.S. GDP fell at an annualized rate of 6.2% in the fourth quarter of 2008, the largest decline in 25 years, and in February 2009 the Consumer Confidence Index reached an all-time low of 25. As the recession continues to deepen, no end is yet in sight for the housing crisis — by December 2008, home prices had fallen 27% from their peak in May 2006 (according
to the S&P/Case-Shiller Home Price Index). Moreover, January 2009 marked the 37th straight month of year-over-year growth in the foreclosure rate (according to RealtyTrac), as mortgage delinquencies spread beyond the subprime market
to affect creditworthy homeowners whose properties had plummeted in value or who had lost their jobs.