The decline of housing as a factor

摘要

As I write this, I'm getting ready to attend the International Builders Show in Orlando with clear memories of last year. In 2011, the AHR Expo claimed attendance of around 50,000 and it was packed. The Builders Show claimed around 55,000 and it was pretty easy to walk around and talk to anybody I wanted to because they weren't busy. When we were putting together our 2012 forecast, I was really struck by something I was told by Chris Peel, chief operating officer for Rheem. New construction accounts for only 10% of the water heating market, Peel noted; in 2006 it was 20%.