🚗 🚙 Turn your trusty old car into trustworthy journalism Learn more
Makin' Money

Another blow to housing–and economy

Chris Farrell Jul 21, 2011

It looks like the current economic turmoil has undermined another hopeful trend. This time it’s home remodeling. The housing market at best is sunk deep in depression-era doldrums. Nevertheless, homeowners had been spending money on improvements.

Well, it looks likes homeowners are deciding that they can live with an aging kitchen and unfinished basement a little longer. The Leading Indicator of Remodeling Activity (LIRA) projects that annual remodeling spending through the first quarter of 2012 will be down 4.0%. The lines on this chart from the Joint Center for Housing Studies at Harvard University are going in the wrong direction–down.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.