Whether we are better off today is a question with no single answer as the experience varies significantly based on individual circumstances and the specific metrics used for evaluation. Economic indicators present a mixed picture, and global events have contributed to a generally turbulent last 365 days.
On the one hand, the job market has remained generally strong with low unemployment rates and more people in their prime-working years holding jobs compared to a few years ago. Wages have also increased, in some cases faster than inflation, which has helped some consumers regain lost purchasing power.
Conversely, while objective economic metrics like GDP and the job market show strength and resilience, many individuals are grappling with the persistent impact of inflation on their daily lives.
FCNews asked several industry leaders for their thoughts on this question. Many declined to answer on the record, while others saw merits to both sides.
YES
Olga Robertson, president
FCA Network, Shorewood, Ill.
There are strong economic indicators but individual experiences may vary due to issues like cost-of-living concerns. Whether you feel better off today largely depends on your individual circumstances and which economic indicators you prioritize.
The past year has seen several positive trends in the US. The labor market is strong with unemployment below 4% for most of 2025; this is the longest such period in 50 years. A stronger labor market equates to more job opportunities and financial security. Real wages have increased purchasing power slightly over the past year but not enough to get ahead.
Public opinion surveys indicate a disconnect where individuals feel good about their personal finances but negative about the overall economy. The cumulative effect of price increases along with political and social issues means that not everyone feels better off than a year ago.
In the short term most retailers are cautiously optimistic. They are coming off a “not so great year” but a “not so bad year.” It’s up and down just like consumer confidence which is greatly impacted by personal finances like income level, home ownership and debt load. Reality is somewhere in between.
The long-term view in my estimation is much more positive despite all the headwinds. The US economy has shown remarkable resilience and overall growth (GDP). The inflation rate is stabilizing closer to the Fed’s 2% target.
Don Finkell, partner
East Paragon LLC, Rocky Face, Ga.
I think we are better off for two reasons. First, we are a year closer to when an eventual recovery will happen. And second, I’m eternally optimistic despite evidence to the contrary. Housing will be better when the Fed lowers the discount rate, but affordability will still be a problem—especially for first-time home buyers. I don’t see anything that will lower prices. I think we have to wait for incomes to rise to make homes affordable again. The confusion of the tariffs was a difficult path to discern this past year. At least we have that settled now—I think.
MAYBE
Jeff Striegel, president
Elias Wilf, Owings Mills, Md.
On the one hand, with the business environment being more challenging over the past year limiting growth, we would have to acknowledge that the answer from a sales perspective would be we aren’t in a better place. However, on the other hand, it is exactly this type of scenario that historically has made every company a little stronger. It is during these periods of time that most companies take a hard look retrospectively at their business.
During these moments, companies typically evaluate what worked, what didn’t and what adjustments are needed moving forward. These “retrospective” periods can help with fine-tuning operations, reallocating resources, or even pivoting their strategy if necessary. It’s where operational and logistics processes are evaluated for streamlining for greater efficiency. It’s where there is more embracing of technology that can provide new efficiencies. It’s where you listen to your customers in evaluation of your sales strategies, customer satisfaction, and market trends. It’s where corporate and sales management teams jointly strategize a more effective approach to the market driven by either customer feedback, product diversification, or wider and deeper penetration by channels.
So, in the end it is the proverbial two-edge sword. The one edge that impacts sales cuts one way; the second edge cuts the other way as self-reflection provides the impetus for change that typically doesn’t occur as deeply when business is robust.
NO
Joel Schreier, president
Home Carpet One, Chicago
In my view, we are much worse off than we were a year ago. The uncertainty and fluctuation in tariffs impacts both the retailer and the consumer. It has caused disruption to dealers like us that import products from around the world. In order to get ahead of tariffs—like many other retailers in other industries—we front-loaded our purchases resulting in both tying up dollars and space that wasn’t otherwise necessary.
The next set of problems will be gauging what and how much to buy of new products that are imported. The risk is buying products that may be 20-30% less expensive a few months from now if the tariffs get either nullified or rolled back. The most likely result is we will be more cautious in our approach.
While pivoting to US manufactured products would be ideal, the reality is that there are certain products that cannot be made in the US like hand-loomed carpet and natural stone. Even the products that are made here, like tile, just don’t have the same aesthetic quality as the Italian and Spanish qualities.
In addition, on a macro level, a year ago inflation was slowing down, but now we are seeing it increase again. This puts the entire economy at risk, which certainly is worse for the flooring industry.
Jay Robinson
Sotheby Floors, Manassas, Va.
Things are so challenging and disruptive under the Trump administration, with the on again/off again nature of tariffs and the immigration crackdown. I do a lot of work in [Washington, D.C.]. My installer workers there are being harassed because they are Hispanic. One of them left his wallet at home, was pulled over and taken into custody; it took three days to get him out. He was legal. If it was you and me, it would have been a non-event.
Bottom line is we need blue-collar labor—we need the Hispanic workforce. They are doing the menial tasks you and I won’t do. If you take them out of the workforce, it will be such a nightmare. The president doesn’t seem to get that, or care. I feel bad for my workers. They just want a better life for their families. There are other flooring retailers in the same boat as we draw from the same pool of workers.
