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>> HURRICANE SANDY Latest News

MAY 07, 2013 - Zero Hedge

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No Recovery Here Either: Home Renovation Spending Plummets To 2010 Levels

One of the widely accepted misconceptions surrounding the so-called housing recovery, which in reality has merely turned out to be a housing bubble in various liquified "flip that house" MSAs (offset by continuing deteriorating conditions in those places where the Fed's trillions in excess reserves have trouble reaching coupled with ongoing foreclosure stuffing), is that "renovation spending", the amount of cash spent to upgrade and update a fixer-upper, has surged. In fact, the guiding light that renovation spending would be a key driver of the housing recovery was sufficient for BofA to ... Read More

Tags: No Recovery Here Either: Home Renovation Spending Plummets To 2010 Levels,  Hurricane Sandy Latest News