Posted on Wednesday, February 16, 2011
Check out the clip on CNBC today!
This months numbers reflect the highest confidence since November 2009. Biggest gains are seen in middle income resopndants earning $40 to $75K. The lion's share say they have extra money now after paying their bills and will save it. But 17% say they'll spend it on home improvements, a factor of waitng to feather their nest an honkner down, knowing they can't move and will need to stay put for some itm euntil they can sell their home for a break even or a profit they feel is fair, needing to improve their home in order to sell or rent it. More elbow grease is going into improveing whats there as opposed to building additions. Renatl construction in general is also up. Home Depot and Lowes are hiring abut 50K each in preparation for always busy Spring season as folks tend to their gardens and home repairs best suited to do during warmer months.
Most of the home improvements are being done by do-it-yourselfers which means, unlike tradtional construction, there will not be a noticable improvement in employment or taxes (a typical new home adds 3 jobs and 90 K in tax revenue).
Foreclosed properties should also add to the bottom line for the likes of Home Depot and Lowes as foreclosures need TLC including paint, flooring, appliances and curb appeal.