no question that BGG provides exposure to the housing market, the housing market is still a major driving in their business model...however the market is much more dynamic than it's ever been historically. It use to be housing market was up + rain and BGG was headed up.
Today the international competition (i.e. China made engines) + OEM acceptance of China engines is a much larger factor in the company's success. The way BGG responds to the threats from Chinese compettion entering the market with acceptable quality levels, lower prices, and a willingness to provide OEMs anything they want with a much shorter turn-around from concept to production will hold the keys to their future success.
Don't expect the Chinese to innovate anything new to the industry for sometime - if BGG doesn't innovate in a really BIG way then the industry falls further into commodity status and the Chinese win. Brand name alone won't keep the wheels on when OEMS simply put their name on a China made engine and consumer doesn't know the difference.
Just my humble opinion but BGG needs to seriously look at new product categories outside it's traditional lawn and garden markets to mitigate the downward trend they have been on. And it needs to be soon while they still have a strong balance sheet and good liquidity.