Contractors are dropping prices on home improvements

[moh malekpour]

http://www.ocregister.com/articles/remodeling-contractors-home-2111335-percent-work

"From what I understand, talking to some of the other guys, some people are dead. Some people are still plugging away," Kesky said of his fellow contractors in the remodeling business. "Very few are busy."

A new report out this month predicts that things are going to slow down even more for U.S. remodeling contractors.

Harvard's Joint Center for Housing Studies forecasts that the level of home remodeling activity nationwide will continue dropping into the winter of 2009

 

[Crunch Hardtack]

"Harvard's Joint Center for Housing Studies forecasts that the level of home remodeling activity nationwide will continue dropping into the winter of 2009".......2010...........2011.........and beyond!!!!!!!!!!!

 

[Terrel L. Shields]

Dead men walking...

Locally, we have seen 75% of the crews idled. I don't see any relief in 09 personally.

 

[Restrain]

With HGTV, DIYNetwork, etc, people are thinking twice about hiring work done. Want a tile floor? You can do it. Remodel a bath? Sure. Just the big jobs are getting done by contractors (roofs, additions, etc).

 

[Riick]

Home Depot down from 8/31/07 ($38.31) to today ($23.89) .. Minus 37%
Lowes down from 8/31/07 ($31.06) to today ($20.44) .. Minus 34%

Even homeowners are not buying materials to renovate.

 

[Couch Potato]

Construction is in such bad shape, "A February 2008 survey of Latino immigrants found that half living in the US less than five years were considering returning to their countries of origin." The percentage returning home is even higher among illegal immigrants. Although the poor economy helps stem the flood of illegal immigration, the drop in population will exacerbate the problems in real estate by further reducing demand.

 

[Mike Kennedy]

Vaya Con Dios - and don't come back until you apply for citizenship and wait your turn just as refugees from every other country did and DO.