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2011 could end up being the first time since 2006 when spending on home improvements increased...

2011 could end up being the first time since 2006 when spending on home improvements increased from the prior year, according to IHS Global, which sees the trend continuing in 2012. "People are remodeling instead of moving," says the chief economist with the NAHB.
Comments (4)
  • what a statement.."people are remodeling instead of moving"...duh!!!!
    how about people are repairing instead of remodeling...probably...
    20 Jan 2012, 08:36 AM Reply Like
  • Absolutely ! People do not increase their hosuing upgrades on an asset that is decreasing in value by the day. However people that purchase a property at 1/3 of it's previous value have no problem doing a few cleanup projects.
    20 Jan 2012, 08:39 AM Reply Like
  • Know a few young people picking up "cheap" homes and getting dad to help remodel. No-brainer - lots of time cheaper than renting. And youngman - repair or remodel - I myself am doing a bathroom redo - not a repair, just an update. All homes need an update in one room or another after several years - and people are updating rather than moving into a spanking new home. Like they used to when I was a kid.
    20 Jan 2012, 09:24 AM Reply Like
  • If you made money in the market and you have seen it go poof a few times it only makes sense to cash a little out and redo the kitchen , bathroom or build that garage while you can . You must maintain your assets . Hard to stomach like has been said when you can't get your money back due to home prices . I remember last time we had a situation similar to this in the 70's those that obtained assumable mortgage's when they were 5% were getting a whole lotta extra money for their homes in 82 when a 30 year treasury note had a 13% rate attached . Problem is the banks learned and you can't find assumable mortgages here at 3.5% if you can shoot me where . Time to lock one in for 30 years and get ready to watch interest rates rise . The game changer will be when we can no longer buy cheap imported products . We better have some serious oil and gas reserves to balance trade as well as do something with our vast coal reserves . Makes no sense to have the largest coal reserves in the World and then declare them non useable . CTL or CTG need more development and a little push for electrical generation while we push solar into every home with everyone feeding a grid . Europe may be having a hard time but they seem to be way ahead of us due to their depletion of natural resources . 65 mpg diesel cars solar on private housing tied into their grid and over the counter medicines that the populous can access for many health conditions after running through with Doctors the first time , they can just go to the pharmacy and skip that step over and over if they and that's important , they choose too .
    28 Dec 2013, 01:15 PM Reply Like
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