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In fact, Lowe's CEO Marvin Ellison said that the aging housing stock in the US is good for business. Both Lowe's CEO Marvin Ellison and Home Depot CEO Craig Menear said that new construction has little bearing on their businesses. Instead, upgrading older, existing homes guarantees customers keep coming back.
Ellison delved into why older housing stock and a "limited inventory in new homes" actually provide a boost for home improvement retailers.
No shit.
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