Renovation boom?

**James** · #1 (**permalink**) 01-24-2008, 08:56 AM

So now that the housing market has gone completely bust, do you think more homeowners will start to renovate their existing homes instead of buying or stepping up to a new or bigger house?

nitrox2595 · #2 (**permalink**) 01-24-2008, 12:15 PM

I think so. This whole frenzy about the economy is totally self created.If everyone just shut up about it, it would stop making people nervous. The media is the biggest culprit. In my area, the house prices are still going up, but they are just taking longer to sell.

concreterick · #3 (**permalink**) 01-24-2008, 07:49 PM

I couldn't agree more regarding your comment about the media input. Here in Michigan we have 'some' difficult situations. BUT, it is all survivable. The non-stop bally-hooing about everybody's dire straights is about enough to drive me to drink.......Thank God for my good friend from Lynchburg Tennessee.

Kerry Patrick · #4 (**permalink**) 01-25-2008, 05:26 AM

It seems that a lot people in our are feel that renovating there home will add value to there home and have a good return on investment when the market swings back up. There are a lot of contractors that may be using this angle as springs rolls around and the ads, door hangers and flyers begin to be handed out.

**James** · #5 (**permalink**) 01-30-2008, 09:06 AM

Quote:

Originally Posted by nitrox2595

I think so. This whole frenzy about the economy is totally self created.If everyone just shut up about it, it would stop making people nervous. The media is the biggest culprit. In my area, the house prices are still going up, but they are just taking longer to sell.

That is how it is here really. The market has slowed, but the housing prices are holding steady.

What's amazing is that as soon as new homes are built around here, the are sold, some are even being sold before they even break ground.

demobud · #6 (**permalink**) 02-14-2008, 11:27 AM

I don't know, it seem in my area while home resales have slowed a little, there are plenty of brand new developments continuing to go up.

Wolf · #7 (**permalink**) 02-15-2008, 11:03 AM

I agree, and there is also a lot of home demo going on and rebuilding bigger and better on the lots.

**James** · #8 (**permalink**) 02-19-2008, 07:33 AM

Quote:

Originally Posted by demobud

I don't know, it seem in my area while home resales have slowed a little, there are plenty of brand new developments continuing to go up.

Isn't that true? Like I said, they are still selling out as soon as they are built.