Home Depot Layoffs Expose What's Really Happening to the Housing Market

Hey everybody, Economic Ninja here. I

hope you're doing well. You know what's

who's not doing well? People that work

here, the Home Depot. That's right.

Layoffs have begun. Let me go get my

notes. And you know what that means? A

couple of things. Home Depot is not

selling a lot of things. And the

what? And the housing market is not

doing well at all. All right, let's go.

I just found this box. I was able to

take the notes. It's crazy where you

could get notes from. All right, here we

go. This is out of Fox Business. It says

Home Depot cuts 800 jobs and orders its

corporate staff back to office

full-time. And you're like, "What? Ninja

people at Home Depot, not all of them

work at the actual stores or at the

corporate offices? I thought CO was like

so like 2021, but that's the case. I

guess, you know, people are still

working from home. This is crazy. Now,

Home Depot just announced Wednesday it's

eliminating 800 jobs tied to its Atlanta

store support center. So, this is just

one actual area that these layoffs are

happening. And I don't think this is the

only one. You're going to see a wave of

these coming soon. And get ready. What's

about to happen to lumber prices? I'm

going to do a whole another video on

that. The company also said it would

require its corporate employees to

return to office full-time 5 days a

week. Um they said here, "We're

simplifying our corporate operations to

better support our stores and our

customers." Home Depot said in a

statement to Fox Business, "These

changes include reductions in roles

associated with our store support center

and transition to 5 days in uh office

schedule for our corporate staff." The

company said its goal is to drive

greater agility to and to position the

company to move faster and stay even

more connected with our frontline

associates. What that actually means is

we need less employees because we are

selling less stuff because homeowners

are broke and the housing market is

crashing. See, see how it's it's just

that easy. That's all you got to say.

Yes, I I'll totally write your speeches

for you. I'm $10,000 an hour. All right,

here we go. says here, "While the home

improvement uh retailer called for the

layoffs and say that they're in a it's a

difficult position.

I I would totally make that better."

Let's say, "Hey, man, we're going to

save so much money by by firing people."

Like, dude, that's it's crazy. All

right. Anyway, so um let's see. I know.

And it sounds crazy because you're just

like, you know, Home Depot, do you

really is this really the case? Is is

the economy doing well? It's like

That's all that's all they're saying.

Here, here, here. Lay down right there.

Lay down next to my notes. Says here,

Home Depot is projecting a sharp drop in

fiscal 2025 profit. It says it right

here. It's not doing good right now.

It's not bodding well. It's getting a

little crazy.

Oh, okay. Uh says here, Home Depot uh

projecting this drop profit. It's less

quarterly earnings. Things are Oh, and

that's the end of the story. That's it.

See, I guess the moral of the story here

is that not only is Home Depot doing

bad, but the real estate sector is doing

bad. And that is why you need to be

prepared to absolutely dominate it. You

see, these crashes don't happen

overnight. And the only reason things

places like this were booming a handful

of years ago is because a lot of people

were given a lot of time off. They were

allowed to go home and work from home

for a long time. So, they had time to, I

guess, renovate their house because of

COVID. That's over. And even Home Depot

comp staff are having to come back. This

is still going on. It's like crazy

chicken time. Hey, I hope you got

something out of this. Thank you so much

for watching. The economic ninja and his

chicken are out.

That's just rude.