According to the Harvard Joint Center for Housing Studies, nearly half of homeowners under the age of 35 earn more than $80,000 annually, and the share has continued to rise over time. This means that more homeowners are spending their money to update their spaces, including their kitchens and bathrooms. As a result, the home improvement industry can expect more whole room renovations and discretionary projects. The twin-engine boost from the largest generational groups, the Millennials, will support the boomer sector by driving more aging-in-place modifications.
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