According to this article from CNN Money, the housing market has recovered to the point of around 2003, which is actually not too bad considering 2006 is widely-accepted as the peak of the real estate market. We wont be seeing 5-7% annual increases any time soon like we were predicting back then, but many economists are predicting a small 1-2% increase from this year to next.
(AP) — New rules for lead paint removal go into effect April 22, adding a bit more time and cost to some home renovations.
The Environmental Protection Agency will require all contractors be certified to take out lead paint. Previously, no certification was required and homeowners could “opt-out” of lead-safe practices if no children under six years old or pregnant women lived in the house.
The EPA estimates the new rules will add an hour to project clean-up and add just under $100 per job for most renovations. The agency estimates about 38 million homes and apartment units, or 40 percent of the housing stock, contain lead paint.
The remodeling industry, however, said the EPA’s cost estimates are too low. Members of the National Association of Home Builders have estimated the cost will climb between $500 and $1,500 on larger jobs because it could extend each day’s cleanup by hours…