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Out With Home Sales, in With Repairs

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Now that lenders have stopped handing out mortgages to everything on two legs, homeowners are spending their money on new toilets and bath tiles instead — according to some penetrating new market analysis. Home Depot, whose bottom line has been suffering a bit from the housing crisis, has nevertheless reported stronger sales in areas like plumbing and kitchen & bath. Nothing like a credit crunch to get you to focus on the practical. [NYT]