April 14, 2008
Property bubble bursts
There are two separate industries that are attached to the housing sector, one is the buying and selling of homes, this includes estate agents and solicitors. While on the hand is the DIY sector, which has recently been suffering due to the buoyancy of the housing sector.
But it would as the housing sector begins to feel the pinch then homeowners are less likely to selling their homes at reduced prices, and so would be more likely to start some DIY projects instead.
So it would seem that there will be an ever growing home renovation sector now which would be good for the DIY sector and in fact for the homeowners who despite their property losing value can actually bolster it up by carrying some well thought out projects which will not only make the home better, but will also make the home more sellable when the time is right.
Source [Economist]
http://www.economist.com/world/britain/displaystory.cfm?story_id=11024646
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