Getting Graphic is a semi-sort-of-irregular collection of our favorite BIG real estate-related images(s).
What remodeling bubble, you ask? Well, every year the Cost vs. Value Report by Remodeling Magazine lays out statistics on the investment return of kitchen and bathroom remodels, room additions and other projects in every major city in America.
Bathrooms were the only category on a national basis to exceed 100%. Actually, I would have thought kitchens would have resulted in a higher value than bathrooms relative to cost. Its a larger room on average, occupying more space than a bathroom. It has more visual impact and is the most shared living area in the home.
I’d be interested in historical figures if they were available. As evidenced by the chart, the relationship of cost to value changes. For example, in New York, and I would expect in many metro areas, the cost of a renovation far exceeded its contribution to value during a weak economic period. In the 1990-1991 recession, we found that the ratio of cost to value was 2:1 but served to accelerate marketing time.
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