High mortgage rates are preventing most Americans from moving, trapping them in aging homes they cannot afford to improve. Home equity loans and HELOCs, traditionally used to finance renovations, have become too expensive, and homeowners are now using them primarily to cover credit card debt rather than fund improvements. According to Datavations data, big-ticket renovation sales at Home Depot and Lowe’s declined between 10% and 28% from September 2025 through August 2026, with shower products experiencing the steepest drop at 21%. Sixty percent of consumers are now deferring major projects in favor of maintenance, and experts warn this could leave homes vulnerable to extreme weather and reduce housing turnover for years to come.
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