Walked into a Lowe's the other day, and was frightened by the sheer unattractiveness of the store to a consumer. I realized later that the store wasn't organized for consumers, but for contractors-- to find doors, shutters, fiberglass, tile, etc...
Newsflash for those in denial: anything related to housing is going to get utterly destroyed. This scenario will play out similar to the internet bubble collapse of 2000-2002. Yes, PurchasePro and Transmeta and WebVan will all go down 99%, but MSFT, CSCO, and INTC will also suffer massive stock drops close to, and more than, 75% of peak stock price. Consider LOW in the category of these 3 latter. LOW will survive, but not before dropping a HUGE HUGE amount in the markets. Reason? Buying a granite countertop for the kitchen isn't going to raise the value of your home greater than the cost of making the change; furthermore, by the time you complete the job, your house will have dropped enough in price to make the improvement a loss in value.
LOW's sales are going to get annihilated in the next 2 years.
$28.89 (10/11/07)
