More money will be spent in home remodeling this year than innew-home construction, says Qualified Remodeler magazine.
The magazine estimated more than $88 billion will be spent byyear's end in remodeling residential properties, and will be 91percent larger than what is being spent on labor and materials in theconstruction of new homes.
"With the combination of an aging inventory and healthy resalemarket, plus the high costs of new construction and the current taxdeduction for home-equity loans and second mortgages, remodelingbecomes the cost-effective alternative to buying a new house," saidPresident and Publisher David M. Sauer.
Last year, residential …
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