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Buy a home, then renovate it – it’s a natural progression for many American homeowners. The recession may have put the brakes on many remodeling plans, but there are signs that the situation is beginning to turn around.
The peak of remodeling activity in the U.S. came in 2007, when $146 billion was spent on home improvement projects. According to a new report from the Harvard Joint Center for Housing Studies, just over $118 billion was spent in the year ending the first quarter of 2009. But the center predicts that the spending decline will moderate through the remainder of …