Home Remodeling Suffers Setbacks from
Subprime Fiasco Fallout

We are bombarded with droll real estate news ad nauseam. Now its reported that folks are not only not able to sell or refinance their homes but they are also not investing in their homes by remodeling at the rate they have been. This is understandable considering the financial situation many homeowners are facing but its not good news for the remodeling industry and the business that are counting on homeowners who try to build up their home equity by improving their residences.

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  • Tim

    Yes, lots of bad news all around. We’ve had a nationwide slowdown in the number of people who are posting remodeling and home improvement jobs with us.
    There is still some high-end jobs being posted, but the mid-level renovation projects are drying up. It could be about worry over home equity or it could be an affect of the credit crunch and financing is not available.

  • Timothy

    Tim – thanks for posting – has this been an ongoing trend for you since early 2007 or only within the last few months? Has this also caused you to alter your bidding strategy for jobs?