Harvard’s Joint Center For Housing Studies has some good insights and stats about U.S. home improvement, maintenance, and repair — an industry where we spent $420 billion last year alone. Here’s a teaser of the 5 insights…
1. Remodeling is a big industry and is central to adapting homes to evolving household needs.
2. Remodeling plays a critical role in preserving the affordable housing stock, and keeping it safe and yes, affordable.
3. The industry has gotten more specialized, which has mostly produced positive changes.
4. It’s not a “move up or fix up” choice for most households, it’s typically “move up and fix up.”
5. Expenditures on home improvements are remarkably predictable.
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