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Downturn in Home Remodeling May Bottom Out in 2024
Spending for residential improvements and repairs is expected to shrink this year for the first time since 2010, but signs point to some easing of declines by year’s end, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA projects that declines in annual homeowner renovation and maintenance expenditure will worsen through the third quarter of this year before moderating slightly to -6.5 percent by the end of 2024. “Home remodeling will continue to suffer this year from a perfect storm of high prices, elevated interest rates, and weak home sales,” says…
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Real Estate Investor Who Bought During 2008 Downturn Shares Advice
Actual estate investor Mike Zuber doubled his portfolio in the aftermath of the 2008 housing crash. His tips for investors right now features funding qualities with 30-year fixed-rate mortgages. He also claims you must purchase and maintain, and concentration on money movement alternatively of residence appreciation. Mike Zuber purchased his 1st rental house in Fresno, California in 2002 immediately after studying Robert Kiyosaki’s “Rich Dad Lousy Dad.” Kiyosaki introduced him to the concept of “obtaining cash make income,” Zuber advised Insider, “and how the rich get richer by proudly owning assets.” With that in intellect, he and his wife Olivia resolved to try out genuine-estate investing. Soon after purchasing their…
