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Recently, I was talking to my friends in China and demonstrating LikePoint to them. I was surprised if not shocked to find out: Remodelling is a culture thing - Back in China or in India (where I am born and brought up), Remodelling kitchens and bathrooms every 5-10 years is not heard of. Whereas, China and India's culture (though, I cannot generalize the whole population of about 2 billion people) opens up to more about buying new homes or existing homes, modifying home for feng-shui or Vaastu.

The other part of our culture is definitely scaling up or down of our homes. We moved from appartment to a 3bd/2bath home and now looking to sell this and move to a 5bdroom/3+bath as we are expanding and I need more space 'for' me - we are scaling up after 6 years. Our realtor who owned a rich acre-wide Saratoga home on the hills sold and moved to a 3bd/2bath condimonium - she scaled down after 6 years.

This is how we sustain several markets including real-estate brokers, home contractors, home builders etc. However, in the new home-front for the past 2 years, we have exceeded 'supply' of new homes than the 'demand' exists and wonderful cities in Florida are seeing steep price descent.

Is this an opportunity? Not sure at this time.