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Home improvement spending booms



 

Home improvement spending booms

Home improvement spending booms
News from NECN:

(NECN: Peter Howe, Boston) Even as the government reported an unusually steep one-month drop in home sales in January – perhaps affected by terrible weather coast to coast – one area of the housing market is booming and growing far faster than the economy as a whole: Home improvement and remodeling.

One way you see it is robust attendance for this weekend’s 64th annual New England Home Show at the Seaport World Trade Center in Boston, where thousands of people with $ 12 to spare for admission can dream some big dreams about upgrading their homes inside and out – from lightswitch covers to lighting to luscious artificial lawns, lap pools, and outdoor living lofts for the kids.

“There’s a lot of pent-up demand from households that weren’t doing projects during the downturn, a little bit nervous about taking on new debt,’’ Kermit Baker, a senior research fellow at Harvard’s Joint Center for Housing Studies and project director of its Remodeling Futures Program, said in an interview Friday.

The Harvard center is predicting a second straight year of 10 percent-plus spending in U.S. home remodeling spending this coming year. Overall home-improvement spending of all kids is forecast by the Home Improvement Research Institute to grow 6.8 percent this coming year to nearly $ 313 billion in 2014. And industry experts Hanley Wood said a…………… continues on NECN

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Related News:

This Home Improvement Store’s Move Toward E-Commerce Could Be a Game …
News from Motley Fool:

Home Depot (NYSE: HD  ) has finally opened its first e-commerce fulfillment center, a big move to help drive its renewed focus on mobile and online sales. However, the one big question I have is “Why now?” This comes more than three years after top competitor Lowe’s (NYSE: LOW  ) implemented its “flexible fulfillment” strategy. With that said, is Home Depot’s new strategy of focusing more on e-commerce coming too little too late?

Why e-commerce matter…………… continues on Motley Fool

… Read the full article


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