How The Fashion Industry has Suffered From the Housing Market

As the housing market remains weak in many parts of the country, home builders are looking for a light at the end of the tunnel. The latest statistics on housing starts gave them only the faintest glimmer of hope. While there are some pockets of strength, it’s too soon to know when the industry will hit bottom, homebuilders and economists say. This, in turn, has had a negative effect on the fashion industry and limited shopping sprees among millions of people to. With so many families focusing all the energy on selling or buying a new home the fashion industry has seen it's negative effect. Not only are people spending less and less money these days, they are also spending less time shopping and spending their money on frivalise things such as purses and designer shoes. The industry of accessories as declined as well for this very same reason. Families are not willing to spend their hard earned money on designer clothes and accessories when they have a mortgage to pay and a house to sell that just doesn't seem to attract buyers. When houses aren't selling, home owners result to lowering their price on homes and in turn wind up receiving less than the actual house is worth.