Repair & Remodeling Spending Surges

Repair and remodeling spending will continue to drive the building material and home improvement product markets with strong growth in the '90s.

Residental repair and remodeling spending for owner occupied oneunit properties rose irom $47.74 billion in 1985 to $63 billion in 1989. F-or all R&R properties spending rose from $80.27 billion in 1985 to $105.16 billion in 1989, according to Frost & Sullivan, Inc.

Healthy repair/remodel spending even in times of economic slowdown is expected to continue. Because maintenance and repair are largely non-discretionary and homeowners are choosing remodeling as more economical than building or buying a new home. no slowdown is eminent.

Products ranging from wood and lumber and non-wood building materials such as roofing and insulation to paint, plumbing and electrical products will remain strong as will sales of power driven hand tools and lawn and garden products. Retail sales of wood and lumber products through do-it-yourself channels are forecast to expand from about $22.66 billion in 1989 to over $25.26 billion in 1993. Non-wood building materials are expected to grow from about $ 18.69 billion in 1989 to 524.84 billion in 1993.

Power-driven hand tools will have retail d-i-y market growth from over $2.2 billion in 1989 to nearly $4.46 billion in 1993. Sales of garden and lawn equipment will grow from $3.69 billion in 1989 to $4.66 billion in 1993.

Home centers will continue to feel competition from warehouse outlets as well as hypermarkets and specialty retailers. The latter will "capture a significant portion of emerging d-i-y sales that might otherwise be captured by home centers," says Frost & Sullivan. This sector increased its market share from 8(Xr in 1982 to l0% in 1987.

Hardware stores will grow from

25,000 in 1988 to25,099 by 1993. Di-yers like the user friendly customer service provided by hardware stores and are willing to pay more for products.

Lottery Nets Reload Center

Universal Forest Products is constructing a lumber unload/reload facility at the Port of St. Helens, Columbia City, Or., thanks to the state lottery.

The company has been awarded a Ioan and a grant totaling nearly a half million dollars from the state's Special Public Works Fund raised through the Oregon lottery. Universal's Far West Co. is investing $540,000 in adock, building improvements and equipment, while the balance of the more than $1,610,000 will come from the Oregon Ports Revolving Loan Fund, the state Department of Transportation and the Port of St. Helens.

The lacility willship lumber products from Northwest mills, including Llniversal's Woodburn. Or.. remanulacturing plant, eastward and to Southern California and Hawaii by barge, rail and truck.

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