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24.06.26 - 23:48
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Builder Shares Rise Despite Trump′s Threat to Kill Housing Bill (Bloomberg)
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Katie Hubbard, president of US capital markets for Walton Global, said that the higher end of the housing market is still doing well as high income clients are still paying to buy and build homes. Hubbard said that despite efforts to make home buying more affordable for the wide public, it is hard for federal efforts to increase housing supply to make an impact. (Source: Bloomberg)...
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24.06.26 - 23:01
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Redfin Chief Economist Sees Structural Issues in Housing (Bloomberg)
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Daryl Fairweather, Chief Economist at Redfin, discusses the bipartisan Road to Housing Act, which President Trump has opposed despite its passage by a veto-proof majority. The bill represents a significant federal effort to address the national housing supply shortage by tying federal funding to local governments' plans to increase housing supply and streamline zoning and permitting processes. She speaks with Romaine Bostick & Katie Greifeld on "The Close." (Source: Bloomberg)...
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24.06.26 - 18:06
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Trump Cancels Housing Bill Signing That Would Ban CBDCs - Demands Action On SAVE Act First (ZeroHedge)
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Trump Cancels Housing Bill Signing That Would Ban CBDCs - Demands Action On SAVE Act First
President Donald Trump abruptly canceled a planned Capitol Hill signing ceremony for a sweeping bipartisan housing affordability bill Wednesday, saying he would not move forward until Congress passes the SAVE America Act, an elections measure he has elevated as a top legislative priority.
In a Truth Social post shortly before the scheduled event, Trump said the housing news conference and signing were "cancelled" until passage of the SAVE America Act, which he described as a "National Emergency."
The 21st Century ROAD to Housing Act cleared the Senate 85-5, with Republican leaders insisting the CBDC restriction ride along with one of the most bipartisan bills in years. The House passed the bill Tuesday 358-32, putting the measure on a direct path to President Donald Trump's desk for signature.
And so - Trump's cancellation upended what was expected to be a rare bipartisan victory la...
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24.06.26 - 16:45
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New Home Sales Unexpectedly Plunged In May As Prices Surged (ZeroHedge)
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New Home Sales Unexpectedly Plunged In May As Prices Surged
With Case-Shiller reporting existing home price declines in half of America's largest cities, New Home Sales were expected to rebound from April's ugly decline.
But they didn't... at all...
NAR reports that New Home Sales in May plunged 7.3% MoM (versus the 3.2% MoM rise expected). That print was below the lowest analysts forecast.
April's 6.2% MoM plunge was revised up modestly to a 5.7% decline, all of which left new home sales down on a YoY basis...
Overall, new home sales have really gone nowhere for four years (but on the bright side, they are not as bad as existing- and pending-home-sales)...
It seems lower mortgage rates (admittedly having risen for the last month) did nothing to help move new home sales...
Finally, while existing home prices are lower, median new home price rose 2.0% MoM to $424,900, unchanged YoY...
Average and median new home prices continue to diverge as sales of ultra-expensive homes drag the average ...
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