Home Remodeling Suffers Setbacks from
Subprime Fiasco Fallout
We are bombarded with droll real estate news ad nauseam. Now its reported that folks are not only not able to sell or refinance their homes but they are also not investing in their homes by remodeling at the rate they have been. This is understandable considering the financial situation many homeowners are facing but its not good news for the remodeling industry and the business that are counting on homeowners who try to build up their home equity by improving their residences.
Tags: home remodeling, real estate, subprime
October 31, 2007 | Comments (2)
Yes, lots of bad news all around. We've had a nationwide slowdown in the number of people who are posting remodeling and home improvement jobs with us.
There is still some high-end jobs being posted, but the mid-level renovation projects are drying up. It could be about worry over home equity or it could be an affect of the credit crunch and financing is not available.
Posted by: Tim | November 1, 2007 11:43 AM