TheaterXTreme Not Worried About Housing Crisis, Oglum Says
The current crisis in the housing and credit markets, which has led to numerous home foreclosures and slumping home prices, is not a concern of home theater builder TheaterXtreme, CEO Scott Oglum said in an interview with CNNMoney.com. That’s because the crisis is leading homeowners to pour resources into improvements of their homes, rather than upgrading to larger houses.
TheaterXTreme, which builds actual theaters in homes, sees happy things ahead, due to rising demand, and a market for home-theater projects that is growing at 32 percent per year. Oglum also told CNN that he is unconcerned because TheaterXtreme does not cater much to the new-construction market.
CNN also quoted an analyst who said that middle-income households, who form much of TheaterXtreme’s clientele, are “still relatively stable” in the present credit environment.