Home Depot Does It Again

It’s no secret I have been bearish on the Housing Market for many months.  I specifically wrote a post about Home Depot four months ago,

Finally Added Home Depot and Lowe’s To My Short List

Credit Suisse downgraded the Home Depot and Lowe’s yesterday citing slowing earnings growth due to higher interest rates weighing on home affordability.  I have been talking about the housing market turning sour for months and was just waiting to add the home improvement retailers to my short list.

Even shorted the housing ETF, XHB a while back,

but when Fed Powell said he was putting interest rates on hold,

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