This Is The Worst Year For US Construction Spending Since 2010

Those construction numbers don"t account for the massive spending on home renovations. Home Depot is killing it:

"Home Depot reported earnings of $2.25 a share, compared with a forecast profit of $2.22 per share.

Revenue was $28.11 billion versus an estimate of $27.84 billion.

Same-store sales climbed 6.3 percent, better than the expected 4.9 percent growth."

Folks aren"t selling their houses and buying new ones. They are renovating their homes and staying in place. HGTV could be hurting new home builders like Amazon is hurting stick and brick shopping malls. There is a new kind of economy, and some of the biggest players of the old economy will either have to reinvent themselves, or they will be cut out altogether. And, by the way, after two major hurricanes and lumber prices up over 40% in two year, building new houses will just become too expensive for most folks to afford.

You know what they say about divorce, "sometimes it"s just cheaper to keep her". Well, the same could be said about divorcing our old houses.