Then+Now:
Stud finders
1985: Magnetic stud finders were the norm, consisting of a piece of plastic with a magnet on a swivel. Electronic stud finders just coming on the market were referred to in March 1986 JLC as “gadgets” and “odd.”
2005: Electronic density detectors that find rebar, concrete, and wiring in walls are common.
What do remodelers earn?
1985: Average annual base salary: $39,207
2005: rage base salary of Big50 Class of 2005: $135,779
Source of 1985 figure: 1985 survey of National Remodelors Council by NAHB Economics Division
Size of the remodeling industry in spending
1985: $83.1 billion
Source: REMODELING 11/85, page 28
2003: $233 billion
Source: Joint Center for Housing Studies at Harvard University
Annual new home prices
1985 Median: $84,300
Average: $100,800
2004 Median: $221,000
Average: $274,000
Source: U.S. Census Bureau
Median household income
1985: $23,618
2003: $43,318
Source: U.S. Census Bureau
U.S. population
1985: 237,923,975
2005: 296,039,946
Source: U.S. Census Bureau
New homes sold
1985: 688,000
2004: 1,203,000
Source: U.S. Census Bureau
Homeownership rates
1985: 64.1%
2004: 68.6%
Source: U.S. Census Bureau
Mortgage interest rates
1985: 12.42%
2005: 5.75%
Source: Freddie Mac
Remodel costs
1992: Major kitchen remodel: $19,261
Bathroom remodel: $7,202
Family room addition: $28,455
2004: Major kitchen remodel: $42,660
Bathroom remodel: $9,861
Family room addition: $52,562
Source: REMODELING Cost vs. Value Report
Plywood and OSB use in residential construction in U.S./Canada
1988: Plywood 81%
OSB 19%
2004: Plywood 28.6%
OSB 71.4%
Source: APA: Engineered Wood Assn.