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We believe there’s a correlation between housing and pet care that’s worth exploring. One name that we see as a potential long idea is animal hospital operator VCA Antech (WOOF). Research shows that consumers in the 25-34 year old age bracket are the largest percentage of first time home and pet buyers. We believe the pet ownership life cycle begins when young couples get a dog when their children are young, followed by a second replacement dog. If housing continues to improve, then pet ownership would follow and same store trends for WOOF would also improve. 

WOOF: Room For Upside - Household Formation vs WOOF SS

WOOF: Room For Upside - New Home Sales vs WOOF SS

WOOF: Room For Upside - Pet ownership life cycle