Is the Home Improvement “Boom” Finally Going Bust?

#Business
"For the past four years, everyone, and we mean everyone, has been doing some form of home improvement. All your friends are redoing their kitchens, your spouse keeps asking when you can renovate the bathrooms, and your best friend just built their dream home office with—don’t get too excited—recessed lighting. This was the home renovation boom of the decade, and now, we could be at the tail end of it.

With home improvement spending starting to dip, interest rates keeping homeowners from big projects, and labor costs still sky-high, what happens when enough demand leaves the market? Do material prices fall as manufacturers try to lure homeowners back in? Will labor costs soften with contractors waiting for work? We brought on The Wall Street Journal’s Ryan Dezember to get some answers.

In today’s show, we discuss the boom and bust of lumber prices, why home renovations are starting to stall, what impact this could have on materials, and whether or not the home improvement spree will pick back up as new construction starts decline. If you’re planning a home renovation, you'll want to hear this episode before you begin.
"