Fox Business: Home Spending Rises

MonicaMehta082013Final
Home Depot hits an earnings home run.  The retailing giant benefits as home prices rise and consumers feel confident about once again investing in improvement projects.  On a nationwide basis, American homeowners have realized a 12% increase in property values over the past year.  That means 1.2MM homeowners are no longer underwater, but we have a ways to go before we undue the damage done from the last bubble – 20% of mortgages remain underwater and another 25% of borrowers have less than 20% equity in their homes.

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