Wayfair suffers major losses amid a startling consumer trend
The home goods retailer is raising alarm bells around a growing problem.
Wayfair (W) has had a challenging few years, just like many other home goods retailers across the country.
As home prices in the U.S. remain high, and the housing turnover rate remains the lowest it’s been in 30 years, with the average 30-year mortgage rate being above 6%, consumers have deprioritized home goods spending, especially on large discretionary home projects such as kitchen and bath remodels.
