As we enter long periods of lockdown and quarantine, our homes have become the place where we do it ALL. There’s no escaping the shortcomings of our homes now, whatever they might be. As consumers hyper-focus on their homes right now, they’re hinting at making new short- and long-term plans—and we’re curious about the impact this will have down the road.
CONSUMERS ARE LOOKING AHEAD TO FIX FLAWS ON THE HOMEFRONT
With comfort at home more important than ever, home improvement projects that have been on the back burner suddenly feel more pressing. Consumers are making immediate changes: cleaning, getting more organized, and getting set up to work more comfortably from home. But with news about periodic lockdowns becoming the new normal, consumers aren’t just thinking about how to make quick fixes, but considering spending in the long term.
“Maybe this is the push that I have been needing all along to go ahead with hardwood floors.” (Boomer, female)
“If another pandemic occurs, I would like to be more prepared financially than I am at the present time.” (Gen X, male)
“I want to make home improvements, finish some stuff that we have started, like cleaning the attic and putting more insulation in so it would save us on heating.” (Boomer, female)
WHAT’S THE FUTURE IMPACT FOR THE HOUSING AND HOME IMPROVEMENT MARKETS?
We want to learn more about the future of the American home. Will we see a shift from densely populated urban areas to suburban or rural areas—especially with a newly mobile workforce? Will the housing market surge as current apartment dwellers seek more space in larger homes? Or will income losses lead to widespread downsizing and smaller homes? These are just some of the issues we’ll be asking about and exploring in future updates.
“Living in an apartment has been tough so this has given us even more of an incentive to buy our own home. … We already had that as a goal but now I think we see it as even more of a necessity!” (Millennial, female)