Blue
November 16th, 2009, 04:22 PM
Remodeling rally
NEW YORK — Spending on home remodeling should bottom out at the end of this year, according to an industry index, reflecting consumers' willingness to upgrade their homes as the broader economy limps out of a recession.
Harvard University's Joint Center for Housing Studies said it expects annualized spending on remodeling to fall to $105 billion in the fourth quarter from $109.7 billion in the previous quarter, before making a turnaround. Spending will then edge up to $105.5 million in the first quarter and $107.6 million in the second, according to its Leading Indicator of Remodeling Activity.
The Associated Press
Bloomberg News
NEW YORK — Spending on home remodeling should bottom out at the end of this year, according to an industry index, reflecting consumers' willingness to upgrade their homes as the broader economy limps out of a recession.
Harvard University's Joint Center for Housing Studies said it expects annualized spending on remodeling to fall to $105 billion in the fourth quarter from $109.7 billion in the previous quarter, before making a turnaround. Spending will then edge up to $105.5 million in the first quarter and $107.6 million in the second, according to its Leading Indicator of Remodeling Activity.
The Associated Press
Bloomberg News