As HomeFixated goes, so goes the nation?
Let’s hope so – because if that’s the case, an economic recovery in the US is most definitely underway.
Harvard’s Joint Center for Housing Studies just released their latest findings and it appears that we have been and intend to increase our home improvement and renovation spending by 5% this year. That’s actually quite a leap. In fact, it’s the first time since 2006 since annual spending increases for the home improvement and home renovation industry have been expected.
This is great for three big reasons:
- People are feeling more confident their incomes, enough that they’ve started spending again.
- As people improve the value of their homes, there’s a greater chance that real estate activity will finally begin improving along with them.
- As money starts making its way into the market – by hiring home renovation professionals and / or spending on supplies and tools at mom and pop shops and big box hardware stores alike – those individuals and companies are better able to hire more employees and support other local businesses.
It’s win-win-win and we salute you, HomeFixaters, for helping to make it happen! We haven’t felt this good since Kate Gosselin was FINALLY kicked off Dancing With The Stars.