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Housing 360

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Housing 360

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    The survey suggests that demand for new and existing homes will increase once the housing market stabilizes. When asked what kind of home they would buy, most respondents — and especially renters — preferred existing homes over new. Among both renters and owners, the top three reasons for this preference — affordability, the value of living in an established community, and being able to remodel the house to their tastes — were especially popular among older respondents.

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    Positive feeling about remodeling rises with income, and especially home value, where it rises from only 37% among owners with homes valued at $150,000, to $54% for people with homes valued at more than $500,000.

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    Maintenance and repair work has dominated in the last two years. Smaller numbers predicted for the coming two years may be low because they don’t take into account the portion of this work that is unplanned.

Housing 360, a report on attitudes toward homeownership, is the result of a 70-question electronic survey commissioned by REMODELING and BUILDER magazines and conducted by The Colton Housing Group in June and July 2011. The responses from 1,954 homeowners and 1,051 renters were augmented by focus groups in Fairfax, Va., Seattle, San Diego, Des Moines, Iowa, Tampa, Fla., and Houston.

The goal of the study was to find out what effect, if any, the recent housing crisis and economic recession has had on people’s attitudes about their homes and about homeownership in general. Topline results are presented here (with some more info available in January’s Dashboard); the full report can be downloaded here: http://go.hw.net/r-housing360

The Housing 360 research was underwritten by Masco Corp., a leading manufacturer of cabinets, plumbing fixtures and faucets, and other products for residential remodeling and new construction.