Remodeling An Alternative To Selling
Home improvement projects are starting to make a comeback after frugal consumers pulled the plug on remodeling and renovation work during the downturn.
With the economy showing signs of stabilizing and retailers and contractors continuing to offer good deals, many Southern Californians are sprucing up their homes’ appearance and value by repainting their bathrooms, installing new floors and carpets, and upgrading their kitchens.
In their most recent earnings reports, Home Depot Inc. and Lowe’s Cos., the nation’s two largest home improvement retailers, posted better-than-expected fourth-quarter results and said consumers seemed to be more willing to take on costlier projects.
At Lowe’s, based in Mooresville, N.C., “the worst of the economic cycle is likely behind us,” Chief Executive Robert A. Niblock said in a call with analysts.
