Home renovation lending is expected to exceed $350bn in Q3 and Q4 of 2019; this type of lending has increased every quarter since 2015 and TV shows are helping to push this trend; popular shows on the HGTV channel talk about the various ways you can renovate your home; weekly viewership is now over 8.6 million, up from 5.8 million back in 2014; the loan itself is not always understood by the borrowers and so there is a thinking that this market has a lot more potential in the coming years as consumers become more educated; helping to play into this trend is baby boomers are aging in place and generation X is seeing a crowded housing market so building on their existing home makes more sense. Source.
