Not in 2008 according to Harvard’s Joint Center for Housing Studies:

Falling consumer confidence and a weakening economy are
inhibiting remodeling spending according to Harvard’s Joint Center for
Housing Studies. The Leading Indicator for Remodeling Activity (LIRA)
reports that homeowner spending for home improvement activity will
continue to decline, falling by an annual rate of 4.8% through the end
of 2008.

Click on the chart for a look (thanks for the help Roadguy!)

How about you? Do you have home improvement projects on hold? For us, we’re going to touch up some paint and replace a drafty front door. Then we have to do some landscaping or we risk our children being swallowed by mud pits on rainy days. But we’re not planning to spend more than maybe $4,000 max on housing maintenance and improvement this year (cross our fingers).

It’s not as fun to put money into a house that may decline in value, even if it’s just in the near term.

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