My reasoning for this commentary is to point out that homeowners should always bear in mind why they bought their dream home in the first place. Certainly there are exceptions to this, but many of us are fixated by the news media's obsession with how the foreclosure problem has caused real estate prices to continue to drop and may never return to an upward price appreciation trend. Looking at real estate as an asset, puts a better light on it. We've all heard of the CMO's (collateralized mortgage obligations) dreamed up by the Wall Street finance wizards, and regardless of this tedious, confusing topic, it causes many ordinary people to become fearful and protective of their investment in their homes. So looking at any asset, when it's value decreases and you still believe in it, shouldn't you add to it? Or in the case of housing maintain it? My belief is that many folks are afraid to spend any hard earned money, since the economic future is unclear. This is validated by an increase in personal savings for the first time in the past 2-3 years. For decades consumers would spend beyond their means on over-extended credit lines, all the while being urged on by credit card offers for more borrowing! But the increase in savings and financial discipline many people are currently displaying, is very encouraging! It would be cold and callous not to mention the many hardships this mortgage mess has caused so many innocent ,hard working people.
  Keeping a home in good condition is a priority to most of the people I know. None of us can escape the realities of needing food/clothing/and shelter for our survival. When it comes to our homes, a plumbing  or electrical problem would require immediate attention. In the case of painting or wallpapering, this is not true. Either some of us become DIY'ers or keep putting off hiring a professional. It is understandable that this is the case, but the poor economy  effects the painting contractor too. Many reputable painters are willing to price their work a bit lower to ensure getting it. Remember that when a room or area of your home or office is painted, you get a fresh new look and feeling to your environment. When done properly the change can be very uplifting to your spirits and is well worth the money spent on the project. Best of all, when done right it won't need to be done again for many years to come!
  So please don't let the negative media blitz get you down. Eventually the foreclosures will all be written off the books of these banks/institutions, stricter standards will be put in effect, and our economy will right itself. I say this both hopefully and with optimism. In the mean time, keep saving and spend wisely.