The remodeling industry has a growing problem on its hands that must be addressed immediately.
Changing homeowner demographics
By 2020, remodelers will be able to draw upon an additional 22.2 million net new homeowners.
By 2020, remodelers will be able to draw upon an additional 22.2 million net new homeowners, according to The State of the Nation’s Housing 2002 from the Joint Center for Housing Studies of Harvard University (www.jchs.harvard.edu/publications/markets/Son2002.pdf). Minority homeowners will increase by 10.4 million, while nonfamily homeowners will increase by 7.8 million.