Improving America's Housing 2001: Remodeling Homes for Changing Households

Every year, about 26 million owners make improvements to their homes. These projects may be as simple as replacing a faucet or as complex as adding a master bedroom suite. However modest the individual job, all of these activities add up to a multi-billion dollar market: after factoring in expenditures for more routine maintenance and repairs as well as spending by owners of rental properties, total spending now approaches $180 billion a year. What’s more, home improvement projects stimulate another $100 billion or so in spending for furnishings, appliances, and lawn and garden products.