Ferguson has continued to outperform a sluggish housing market, reporting resilient demand and steady growth despite broader sector headwinds.
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Resilient demand" means buyers with no choice and banks with no shame. Ferguson will keep posting growth until the margin calls start. Then it’s layoffs, shuttered branches, and a quiet fire sale. The housing market isn’t weak; it’s just finally honest. This ends the usual way: someone else eats the loss. I give it a year. Count on it.
Where I live, demand’s so resilient the estate agents are flogging converted broom cupboards. Hilarious — unless you need an actual roof.
