Harvard Sees 5% Remodeling Drop for 2008

The Joint Center for Housing Studies in Cambridge releases its most recent Leading Indicator for Remodeling Activity, and forecasts a 4.8% drop this year in remodeling spending.
It looks unlikely that we will see any improvement in the remodeling market until 2009,” remarks Kermit Baker, director of the Remodeling Futures Program of the Joint Center. “Currently, the second half of this year is shaping up to be weaker than the first half.”