TULSA: Spending on renovations may rise to a record this year as homeowners with low interest rates decide to stay put and remodel their existing homes, stimulus programs encourage energy-efficiency upgrades, and surging demand for rentals spur landlords to invest in their properties, according to a new report released by a university housing research unit.
Home improvements and repairs now generate about 1.8 per cent of economic activity, slightly below the average over the past decade. As owners gain equity in their properties and rents continue to rise, “investment in improvements to the nation’s housing stock is likely to strengthen,” said the report…