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Canada: Will home renos be next shoe to drop for housing market?

Posted on 15 March 2013

Could home reno projects be the next shoe to drop for the country’s weakening housing sector? It’s an observation put forward by a Toronto market research firm this week that suggests renovation spending will suffer as a result of the unfolding downturn.
“You don’t want to spend money to renovate or make big changes to an asset when the value of the asset is declining,” Amna Asaf, economist at Capital Economics said by phone. “Already you’re losing money on the house itself.”………………………………..Full Article: Source


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