Yup. This chart was sourced in 2019 and has been pure money. Single-family threw in the towel over the summer, Multi-family housing capitulated this fall.
Furniture is a leading economic indicator.
When people are worried about their financial security, the LAST thing on their priority purchase list is a new sofa.
“...the LAST thing on their priority purchase list is a new sofa.”
And they can always buy a used one at a garage sale, thrift store or online for $100-$200 rather than $2500. I was commuting between Iowa and California a few years ago for work and was renting a small house there. I furnished it with used furniture from a second hand store. 2 rocker recliners, 1 sofa, 1 kitchenette w/2 chairs, and 1 coffee table/TV stand for $1200. No bed because I slept on the couch.
Yup. This chart was sourced in 2019 and has been pure money. Single-family threw in the towel over the summer, Multi-family housing capitulated this fall.