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Lowe's reported that the slowing housing market is not adversely affecting its finances, attributing this to consumers' unexpected willingness to spend more on home improvements. This sentiment aligns with Home Depot’s CFO Richard McFail's observations about an "improve in place" mentality. Lowe's CEO Marvin Ellison highlighted three main factors driving this trend: the substantial home equity accumulated by current homeowners, a significant increase in home prices (over 40% in two years) resulting in homeowners having $11 trillion in usable equity by early this year, and the aging U.S. housing stock, which averages around 40 years old.