re: Home Remodels over the next few years

In my opinion, the first correction will be that those who can hammer a nail and call themselves a contractor will start to disappear. We’re in the time now where if you breath you can lay flooring.

Once the tide rolls out, those guys playing with their pants down will be the first ones out of work. Quality, or lack thereof, will finally cost them to fold.

The big boys and good contractors still have enough work to eat for years. I’m in NOVA and it takes any good contractor a week or two just to schedule an appointment to discuss your project. Their prices aren’t going anywhere anytime soon.

Plus, historically speaking, money is still super cheap. People are borrowing off their HELOC’s at 6.25-7.25% with interest only payments. On top of that, there are a ton of contractors that have 3rd party financing in place with deals like 24 months no payment no interest. Sure, some of those lenders will dry up as things get bumpy, but I just don’t see this being your 2008 recession.