The 23rd Annual Kitchen and Bath Business Market Forecaster revealed its expectations for the industry in this rough economy based on consumer expectations from the last quarter of 2007. Both kitchen and bath remodeling project spending are expected to drop 14% which amounts to over a $118 billion drop. Parallel to this decrease in spending is the decrease in jobs in the bath sector of the industry, which is predicted to decrease around 14%. The kitchen industry expects only a 1% gain in jobs. With the threat of recession, lowered housing starts, and the weak real estate market, it is no surprise that consumers are spending less on interior design and home remodeling. In home staging we often see how reluctant homeowners are to remodel bathrooms, but notice that they are more likely to remodel kitchens. Bathrooms are private spaces and get little attention when it comes to home improvement. Kitchens on the other hand have become showy social places and the key selling feature of homes.

Figures from K+BB January 2008 issue

This entry was posted on Wednesday, February 13th, 2008 at 8:30 pm and is filed under A Day in the Life of a Stager, Clean and Clutterfree, DIY on a Dime, Green Living, Local News, Looking for something?, Products and People, What's the Big Idea?. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.