Posted by: jeb1 | October 26, 2010

Gunning for Growth

You can see the light at the end of the tunnel. “Substantive growth in remodeling spending, coming off a three-year decline, seems likely in 2011,” according to the latest quarterly Leading Indicator of Remodeling Activity.

Released yesterday by the Remodeling Futures Program, part of Harvard University’s Joint Center for Housing Studies, the LIRA indicates that home-improvement spending — while still way below its go-go peak of 2007 — “is expected to be up at a double-digit pace at an annual rate through the first half of 2011,” according to a press release.

Remodeling leading indicators, October 21, 2010

Remodelers are feeling better, says Kermit Baker, director of Harvard’s Remodeling Futures Program. “Low financing costs and a wave of previously foreclosed homes coming back on the market and in need of renovation are expected to generate healthy growth over the next several quarters.”

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