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Remodeling activity is very strong

As this chart shows, remodeling activity has surged this year (source). I should know, since we have done quite a bit of it ourselves this year and last. Plus, some contractor friends—particularly one that specializes in energy retrofitting—tell me that business is doing very well.

As Calculated Risk notes: "The BuildFax Residential Remodeling Index increased for the twenty-fourth straight month in October to 147.6, a new high for the index. This was up from 141.4 in September, and up 39% year-over-year from 105.8 in October 2010. This is based on the number of properties pulling residential construction permits in a given month."

Not everything is in the dumps, as you might expect if you only looked at the stock market, PE ratios, and 10-yr Treasury yields.

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