The US remodeling market soared above $600 billion in the wake of the pandemic and, despite recent softening, remains 50 percent above pre-pandemic levels. However, industry fragmentation, inflation, and a shortage of skilled trade labor jeopardize the ability of the industry to fully meet demand.
After two years of decline, annual expenditures for improvements and maintenance to owner-occupied homes are expected to grow at a mild pace throughout 2025.
After a mild pullback over the previous year, spending for improvements and repairs on owner-occupied homes is set to expand once again by the middle of next year.
With funding from the Harvard Joint Center for Housing Studies, 19 students from across Harvard will work on issues related to housing and community development this summer.
Annual expenditures for improvements and repairs to owner-occupied homes are projected to decrease this year and into the first quarter of 2025, but at a moderating rate.
For over three decades, Dr. Margot Kushel has both cared for people who experience homelessness and studied the causes, consequences, and solutions to homelessness.
Climbing rents have propelled cost burdens to staggering new heights: in 2022, half of all US renters were cost burdened. The number of renter households spending more than 30 percent of their income on rent and utilities rose by 2 million in just three years to a record high of 22.4 million.
