Good News on the Home Remodel Front
Updated: Aug 24
Houzz, which is a premier home design and remodel resource, has conducted a telling survey recently. The results show that half of homeowners who use Houzz for ideas, products, to locate professionals, and so forth, have continued their remodel projects during the current quarantining period:
An important detail in this article is that only 24% of those who did delay projects did so because of budget problems, and another 35% because of cost increases and other complications that may or may not be due to the pandemic. This means that about 40% of those who delayed did so because of non-economic reasons.
This is great news for a lot of reasons, the biggest of which is that it will help to short-circuit the catch-22 situation that is an economic slowdown: as people have less work or financial resources because of the bad economy, they are less inclined to invest or make major purchases. A large number of people doing this results in a worse economy, which feeds itself.
Because a good number of people are moving forward with significant remodels currently, that is a good sign for a more speedy economic recovery.