
The deterioration of the housing market has trickled down to affect remodeling activity. The Leading Indicator of Remodeling Activity (LIRA) projects that homeowner improvement spending will be declining at an annual rate of 12.1 percent by the third quarter of 2009. Clearly, plummeting consumer confidence has caused reluctance among homeowners to start a major remodeling project. Today, people are looking for ways to get a big change in the look...