Posted on June 13, 2024 by Rebecca Henderson
Article courtesy of USA Today Homefront
Despite home renovation statistics and spending trends signaling a pending decline
post-pandemic, many homeowners plan to invest in their home. The home renovation industry
has quickly surpassed the $400 billion threshold within the last two years, according
to reports from the Joint Center for Housing Studies of Harvard University (JCHS)
Leading Indicator of Remodeling Activity (LIRA).
“There is also a social component, where homeowners may be influenced by their neighbors
or friends who are renovating their properties,” said Ermanno Affuso, professor of
economics and finance at the University of South Alabama in Mobile. “Factors such
as income, interest rates, and intangible factors like sentimental value and rational
…
