New York
CNN
—
Aspiring home owners are finding the housing market to be pretty grim lately. With record-high mortgage rates, expensive insurance, and a limited selection of pricey homes, many are staying put — whether they want to or not.
But the bleach outlook could be a boon for Ikea, a budget furniture seller that appeals to people who need to furnish small spaces, can’t spend much and don’t expect products to last very long.
With “people maybe not being able to get into that dream house right now, whether for affordability or availability … they’re looking for solutions that might not be as permanent,” said Michael Brown, partner in the consulting firm Kearney’s consumer products and retail practice. He added that unlike its competitors, Ikea’s offerings work well in smaller spaces. “I actually think the environment is ripe for them to go and expand at this point in
