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Home Improvement Is Booming Again

Home improvement retailer Lowe's boosts stock buyback program to up to $7.4 billion | Star Tribune

More than half (57%) of homeowners have a home improvement project on their to-do list this year. And were not talking minor touchups or a quick coat of paint. More than one-third (36%) of homeowners plan to spend $5,000 or more this year on renovations . And 18% are stepping up and knocking more than $10,000 out of the park to dust off the old home plate, according to a Harris Poll conducted for SunTrust. The planned projects are near evenly split between home updates (52%) and repairs (49%), with the most popular improvements including: Decks, patios and landscaping (43%) Bathroom remodels (29%) Kitchen updates (26%) George Peters/Getty Images Contractors remodeling kitchen And while in past years tapping a home equity loan was the go-to method to fund such improvements, most consumers (59%) say theyll raid their savings accounts instead. Other homeowners, buoyed with growing confidence in the economy, will pull out their credit cards (30%).
For the original version including any supplementary images or video, visit http://www.msn.com/en-us/money/realestate/home-improvement-is-booming-again/ar-BBircYy?srcref=rss

The Mooresville, North Carolina-based company still has $2.4 billion left over from its previous program, bringing the fund to $7.4 billion. When a company buys back its shares, it returns cash to its shareholders and also boosts its per-share earnings. The improving U.S. economy has given homeowners more money and confidence to do work on their houses, a boon for retailers like Lowe's and Home Depot. Many economists think the housing market will improve in the spring.
For the original version including any supplementary images or video, visit http://www.startribune.com/business/297068921.html

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