Total spending on fix-ups headed to a 4% gain in 2006, about half of what was originally projected at the start of 2006. Even homeowners who have a lot of equity in their houses are reluctant to cash out for home renovations, wondering if now is the right time to re-invest in their house. Slowing sales of existing homes and the question of interest rate changes add to the caution. It is now thought that 2007 will see only a modest gain in remodeling, about a 3% increase.
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