Why Americans are shunning new homes and opting to stay put, renovate instead
CHICAGO - When John Gedwill's family outgrew its suburban Chicago home, he didn't consider looking for a bigger place.
His memory of the housing crash a decade ago was still too fresh.
"Real estate isn't the greatest investment," said Gedwill, an electrician who lost money on a condo during the crash and watched many people go through similar experiences.
So instead of shopping for a new house, Gedwill decided to build what he calls "a man cave" in the basement of the three-bedroom home he bought eight years ago.
"If you can stay in the
