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Homeowners are Spending up to $40,000 on Luxury Stoves That Are Backordered for Months.

The appliance shortage is due to pandemic-related supply chain issues, a chip shortage and surge in supply. Wealthy homeowners spent the pandemic renovating their multimillion-dollar homes, and it’s led to skyrocketing demand for luxury appliances. The New York Times reported a real estate boom among the rich and the surge in renovating that followed. Interior designers are being flooded with…

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