The Recession just hit Home Depot. Real estate downturn getting worse.
The recession in America just hit Home Depot and Lowe’s, home improvement stores whose success is fundamentally linked to the US housing and real estate market.
Home Depot reported a big revenue miss on the quarter. While Lowe’s reported revenues down 17% YoY in Q1 2024. These poor performances are a signal the the US consumer is now cutting back on discretionary purchases – namely expensive home renovation projects.
One reason for this is due to the big slowdown in the housing market. With the National Association of Realtors reporting that home sales are down near 30-year lows in 2024. Indicating that fewer people are moving and starting renovation projects. Which hurts Home Depot’s business.
—
REVENTURE APP: https://www.reventure.app
Access Exclusive Data and Videos as a Channel Member: https://www.youtube.com/channel/UCVTQunGrE3p7Oq8Owao5y_Q/join
DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting’s YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.
Image(s) and/or Footage used under license from Shutterstock.com. https://www.shutterstock.com/
Additional stock footage provided by Envato Elements. https://elements.envato.com/
Leave a Reply