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Notes from Bob
As many of you are aware, this year I am serving as chairman of the National Association of Home Builders Remodelers Council. It has been interesting, challenging, busy, but fun as well. My most recent activity was to be invited to attend and participate in the University of Harvard’s Joint Center for Housing Studies recent Remodeling Futures Program. Finally, now I can say I’ve went to Harvard!
While there, the future of remodeling activity was discussed. Findings were mixed with general concern over the pace of the economic growth activity nationally and a stalled housing economy causing only modest gains in home improvement spending in 2011.
The (LIRA) Leading Indicator of Remodeling Activity, designed to estimate national spending predicts that nationally spending in remodeling activities will grow only 0.2%, much less than hope for.
On the good news side, the Mountain West Region, primarily Colorado is predicted to be above those numbers for 2011, with still some shaky times ahead, but generally better overall economic news. Overall regional and local predictions were all over the board with changes very dramatic depending on many local factors.
The Remodeling Futures Program, developed by the Joint Center for Housing Studies in 1995, is a comprehensive study of factors influencing growth and economic issues of the housing renovation and repair sector of the building industry.
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