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Hardwood vs. engineered wood

I’m old enough to remember when “hardwood” meant solid wood, and I still think “engineered hardwood” is new-fangled. Is the engineered product now considered the equivalent of hardwood, and interchangeable with the solid wood? Just curious, I’ve never had it, but it seems to be the flooring of choice in a lot of posts, and is often referred to as hardwood. Has the solid hardwood just become too expensive? I’ve had it in every house I’ve ever bought, but never had to buy and install it myself.

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