Americans spent so much on remodeling projects last year that it would appear remodeling had joined the ranks of America’s favorite pastimes. What could be fueling the increased spending?
Statistics show that Americans have spent nearly $130 billion on renovations in 2013 and may spend more in the coming months. Harvard University’s Joint Center for Housing Studies says there was a 6-percent jump in remodeling projects during the third quarter of the previous year.
Although still far from the 13-year high record of almost $150 billion in 2006, a year prior to the housing bubble, experts are bullish about the positive growth of remodeling in Chicago and all over the U.S.