RH Says 'We Continue To Expect The Luxury Housing Market And Broader Economy To Remain Challenging Throughout FY23 And Into Next Year As Mortgage Rates Continue To Trend At 20-Year Highs And The Current Outlook Is For Rates To Remain Unchanged Until Q2 2024'
Portfolio Pulse from Happy Mohamed
The luxury housing market and broader economy are expected to remain challenging throughout FY23 and into next year due to mortgage rates trending at 20-year highs. The current outlook is for rates to remain unchanged until Q2 2024.
September 07, 2023 | 8:08 pm
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RH, a luxury home furnishings company, may face challenges due to the expected difficulties in the luxury housing market and broader economy.
RH, being a luxury home furnishings company, is directly tied to the health of the luxury housing market. With the market expected to remain challenging due to high mortgage rates, this could negatively impact RH's sales and profitability.
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IMPORTANCE 70
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