The Rise of Home Decor

The Rise of Home Decor presented to you by Carafina Home Decor In spite of the recent economic downturn, home decorating has exploded in popularity. Never before have so many people been willing to work on their own homes and use their creativity to make their living spaces comfortable. $65.2 billion Some estimates measure the home decor market to be approximately $65.2 billion each year. There is a societal shift toward renting longer and buying less. This is because of the rising costs of homeownership, growing benefits of rent control, and the transient nature of young professionals' careers. According to a recent study conducted by Harvard University: 37% 31% 34 million 43 million 9 million The increase of nearly 9 million renter Renter households The share of all US households that rent rose increased from 34 million in 2005 to nearly 43 million in 2015. households between 2005 and 2015 exceeds growth during any 10 year period in recent history. from 31 percent in 2005 to 37 percent in 2015, its highest level since the mid-1960s. 23% 34% 43% After declining in 1995-2005, fully 34 percent of growth in renting in 2005-15 was native-born whites, while 43 percent was native-born minorities and 23 percent was foreign-born households. The largest share of the growth in renters in 2005-2015 (55 percent) was among households aged 50 and older (Baby-boomers and older). VAV 50% 11% 34% 15 million million 34 percent was among households aged 30-49 (Gen-X), 11 percent was among households under age 30 (Millennials). The number of renters aged 50 and over grew 50 percent in 2005-2015, from 10 million to 15 million. 41l 15 million 18 million Despite a decline in the overall number of households headed by persons aged 30-49 in 2005-2015, the number of renter households among this age group climbed from 15 million to 18 million. Carafina Sources: http://www.forbes.com/sites/moneywisewomen/2012/10/24/growth-of-the-home-decor-market-shows-no-si gns-of-slowing-down/#b9d8e365fca4 https://www.linkedin.com/pulse/rise-home-decor-industry-charlotte-nichols?forceNoSplash=true http://www.jchs.harvard.edu/sites/jchs.harvard.edu/files/2015_jchs_rental_report_key_facts.pdf Cf www.carafina.com (-