If I live in a neighborhood that has homes that routinely expect to see two-and-a-half or three baths, and my home has one-and-a-half baths, by adding that second bath I'm going to get a real phenomenal return. On the other hand if I have four baths and I add a fifth, I'm probably not going to get much return at all.
More Quotes from Kermit Baker:
It's a harbinger of slower growth. Both home-building and remodeling helped carry the economy through slower times. Now it will be the reverse, or at the very least it won't be a source of propping up the economy.Kermit Baker
If you need to build a hospital, you're going to build it. But things that are really maybe more spec -- office, retail and things like that -- might be more susceptible to sharpening the pencil to make sense.
Kermit Baker
After six years of recession-like conditions in the industry, 2006 is shaping up as the year that will launch a non- residential expansion, picking up some of the slack from a cooling residential market.
Kermit Baker
Over the last 10 years, we've seen a fairly significant core of the population spending more than half the value of their home on improvements. Some of that is because buyers increasingly are moving into older suburbs convenient to their jobs in the city, and they're renovating smaller Cape Cod and ranch-style homes.
Kermit Baker
Not bigger, but better - that thought has caught on in some places.
Kermit Baker
There's a strong concern in that area, which has been heightened over the last four to five months. There's more emphasis on technology to ensure that homes are as energy efficient as they can be.
Kermit Baker
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