Remodeling stalled for now, study says

Canlen, Brae
February 2009
Home Channel News;2/16/2009, Vol. 35 Issue 2, p6
The article reports that the U.S. home improvement industry experiences a severe economic downturn caused partly by mortgage foreclosures. It states that the mortgage foreclosures will stimulate remodeling activity once the housing market recovers from the existing economic struggle. It notes that homeowner spending on home improvement is diminishing at an annual rate or 12.1 percent and the uncertainty in the job market makes consumers more defiant to take big projects.


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