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- US home improvement surged during the pandemic as many people had spare cash and little to buy.
- Home Depot warned the boom may be over as higher prices and borrowing costs squeeze consumers.
- The retailer's bosses expect lower demand to mean flat sales and an earnings decline this year.
American homeowners invested heavily in renovating and expanding their dwellings over the past three years. Here's a closer look at the US home improvement boom, and why Home Depot warned this week it might be over.
Why did people splurge on their homes?
The COVID-19 pandemic spurred authorities to restrict travel and shutter non-essential venues like restaurants, stadiums, and casinos.