May 8 2008 9:08AM | Permalink | Email this | Comments (0) |
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I missed my usual Multi-link Monday this week, but I did want to share some of the things that caught my eye lately:

• Calculated Risk takes a dismal look at the remodeling market, predicting that home investment will drop 15 to 20 percent before the worst is over. That's after the Bureau of Economic Analysis reported a 2 percent drop in home improvement spending in Q1 2008 from Q4 2007. CR's prediction is significantly gloomier than yesterday's NAHB projections that I wrote about here.
• On the other hand, a Wall Street Journal columnist opines that we may have hit bottom in new construction. (It's worth noting that remodeling tends to trail the economic cycles of new homes by 6 to 12 months.)
• And here's one of the reasons why I don't think the worst is over yet: According to Zillow.com (which tracks home prices), more than half of homeowners who purchased in 2006 are now "underwater" on their mortgages. The numbers are just under half for 2005 and 2007. For 2004 and 2003, it's 16 and 7 percent, respectively. You can read more here.
• Finally, here are a few items on green. The Baltimore Business Journal writes on a report that the big builders aren't embracing green. USA Today talks about Greensburg, Kan., which, after being nearly destroyed by a tornado last year has taken the opportunity to rebuild as, well, a Green burg. And Dilbert creator Scott Adams blogs about his frustration in trying to build a green home.