In many areas of the country, the real estate downturn grinds on longer than the housing economists had been predicting (go figure). According to a recent teleconference with numbers crunchers from the National Association of Home Builders and the Joint Center for Housing at Harvard, spending on remodeling is also dropping, but just 1.5 percent after adjustment for inflation. According to NAHB chief economist David Seiders, the slower growth of remodeling this year and next would be more evident in highly discretionary jobs like remodeling kitchens and baths and adding rooms. So now I know why the bank made the offer and suggested adding a room. Untapped Riches: Never Pay Off Your Mortgage--and Other Surprising Secrets for Building Wealth

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