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�� well as VP, Obama would ensure Biden is fully and completely prepared to step in as president should that become necessary and at the same time achieve calculable budget savings. Before the idea is dismissed out of hand, it has some historical support. Recent vice presidents have assumed increasingly important roles, a far cry from when President Dwight Eisenhower was asked in 1960 what important programs or suggestions his vice president (and then presidential candidate) Richard Nixon had been responsible for. Eisenhower replied by saying if he had a week to think about it he might come up with one. Jimmy Carter elevated the role of the vice presidency with Walter Mondale, as did Bill Clinton with Al Gore. It was elevated even more���perhaps over the top���under Vice President Dick Cheney. Obama, also, has increasingly turned to Biden. In 1980, Ronald Reagan considered the suggestion from former president Gerald Ford, whom he had defeated for the Republican presidential nomination. It was seen���at least by Ford���as a way to complement Reagan, providing him with someone who could attend to the details Reagan abhorred. When it became clear to Reagan that Ford wanted not to be vice president but co-president, with a specific portfolio, Reagan turned instead to George H.W. Bush as his running mate. That Biden ran, albeit briefly, against Obama in 2008 should not be a deal-breaker. Obama not only selected him to be vice president but also tapped Hillary Clinton as secretary of state, cementing his ���team-of-rivals��� approach to governing. Obama could do worse. Hear Mark Lieberman on P.O.T.U.S. (Politics of the United States), Sirius-XM 124, every Friday at 6:40 a.m. and again at 9:40 a.m. (EST). STAT INSIGHT 1.75M Mortgages eligible for compensation from the National Mortgage Settlement. Source: Nevada Attorney General���s Office VISIT US ONLINE @ DSNEWS.COM STUDY FINDS HOME IMPROVEMENT MARKET ���POISED��� FOR REBOUND After experiencing a slump, spending on home improvement is expected to register an increase in 2012 with the market appearing to be ���poised for a solid rebound,��� according to a recent report from the Harvard Joint Center for Housing Studies. The Harvard Joint Center estimates spending on home improvement rose 9 percent in 2012 after falling in previous years. The Center found spending on home improvement and repairs reached $275 billion in 2011, which represents a 4 percent decline from 2009 and about a 16 percent decline from the 2007 market peak. The surge in foreclosures and short sales and the high share of underwater homeowners left many borrowers with little incentive to improve or maintain their property conditions, according to the Center���s research team. However, those factors, as well as the growing interest in environmental sustainability, ���are now driving a rebound in the home improvement industry,��� the researchers note in their report. The study also noted the number of ���inadequate��� homes has risen, increasing 7 percent between 2007 and 2011 to 2.4 million units. A home is categorized as inadequate if it lacks a complete kitchen, bathroom facilities, or running water and shows other signs of disrepair. ���As the broader economy recovers and housing markets tighten, however, some of these inadequate homes will likely be renovated to provide affordable housing opportunities,��� the report stated. In 2011, institutional sellers made improvements to about one-third of their foreclosed properties prior to sale, spending about $6,500 per unit, which equates to a market expenditure of about $1.7 billion. Homeowners spent about $11,100 on distressed properties during the same time period, contributing a total of $4.2 billion to market expenditures. Investors spent more on each unit���about $15,600���while contributing about $3.9 billion to market spending. Overall, home improvement expenditures for distressed properties reached about $9.8 billion in 2011. Aside from improvements to distressed homes, the movement toward ���green��� improvements, such as increasing energy efficiency, is contributing positively to home improvement spending. Likewise, growth in the population of those 65 and older is expected to bring about strong demand for retrofitting existing homes. Separately, the National Association of Realtors (NAR) released a report on the types of renovation projects that yield the greatest return on investment (ROI). Based on the results of the trade group���s 2013 Remodeling Cost vs. Value Report, exterior projects typically return the best value for the investment. ���Projects such as siding and window and door replacements can recoup more than 70 percent of their cost at resale,��� said NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, California. The report found replacing a door with a steel entry door provides the most return, with an estimated 85.6 percent of costs recovered upon resale. On average, the report found a steel entry door replacement costs about $1,137. The addition of a wooden deck reaps the second highest return. The project is estimated to recoup 77.3 percent of costs upon sale, but project expenses average about $9,327. Replacing a garage door ranked third, with 75.7 percent of costs expected to be recouped and a lower average cost of $1,496. While most of the high-ranked projects were exterior, a minor kitchen remodel is expected to yield the fourthhighest return of 75.4 percent. The average cost for this project, though, is $18,527. Wood replacement windows were No. 5, with 73.3 percent of expenses expected to be recouped, along with an average cost of $10,708. Other projects expected to yield at least a 70 percent return included wood replacement windows, attic bedroom, vinyl siding replacement, vinyl window replacement, and basement remodel. Home office remodel (43.6 percent) and sunroom addition (46.5 percent) are expected to recoup the smallest returns. 47

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