Remodeling is a local market

You may be hearing about the horrible housing markets in Florida, Arizona and California. After all, it’s all the media focuses on. Those states are among the hardest hit in the housing melt-down. They also had some of the highest property values, too. Values were rising faster than new housing could be built. In hindsight, it was a recipe for disaster.

But what if you live in a different area of the country? What if you are in, say, Austin Texas, or Portland, Oregon? In those areas, housing was not hit as hard. The economies are, well, we can’t use the word “strong” any longer. Maybe “firm” would be a better characterization.

The point is that remodeling, like homebuilding, is a local economy. The media loves to make sweeping statements that make us believe it is the same all over the country. But it’s not. Even areas within hard-hit places like California, Arizona and Florida are doing better than others.

Focus on your own local market and don’t buy into the rest of it.