Housing Slump Leads to Falling Home Goods Sales and Retail Bankruptcies
• Plunging home sales leading to less spending on furniture, appliances, home goods • Retailers like Home Depot, Williams-Sonoma seeing falling revenues due to housing market • Multiple bankruptcies this year for companies selling home furnishings and decor • High mortgage rates preventing people from selling homes, slowing overall housing market • Builders facing challenges from high interest rates and costs, squeezing future housing supply