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Carrier warns of 40% residential HVAC dropwww.gurufocus.com/news/3104569/carrier-carr-faces-challenges-in-residential-hvac-market
311 sats \ 6 comments \ @byzantine 4h econ
North American residential business, projecting third-quarter volumes down more than 40%, due to a combination of weakening consumer demand and aggressive distributor inventory reductions.
The company is seeing the weakest industry third-quarter volume in over a decade, Gitlin said. “The combination of high interest rates and pressure on the consumer are increasingly weighing on consumer spending, including on new and existing home sales, leading to delayed residential HVAC activity.”
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30 sats \ 4 replies \ @Undisciplined 4h
Is this a subsector that people follow for any particular reason?
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72 sats \ 3 replies \ @byzantine OP 3h
yeah it means homebuilders are imploding as they are the ones mainly buying new units
no new buys means no finished construction means no one wants the new houses because the people are broke
i actually think this is why we don't see retail entering bitcoin. all the normies are broke
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0 sats \ 0 replies \ @Undisciplined 49m
It has the added advantage of capturing people deferring maintenance on their homes, which is probably relatively hard to track.
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0 sats \ 0 replies \ @kepford 1h
I see a lotta pain in the future
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0 sats \ 0 replies \ @SimpleStacker 1h
not a bad hypothesis...
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0 sats \ 0 replies \ @Scoresby 56m
Broke..or waiting. I know people on both camps. Two friends were going to build this year but put it off to see of things got better rates-wise. Another person I know has given up pretty much because they don't think they'll get enough saved.
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