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☆ Walgreens announces price cuts on 1,300 items amid ongoing consumer spending fatigue
▼ + stars: | 2024-05-29 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

Signage is seen outside of a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. Walgreens announced Wednesday it would continue to cut prices on some 1,300 items — the latest company to pivot to value amid signs U.S. consumers are experiencing spending fatigue. "Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials," said Tracey D. Brown, EVP, President, Walgreens Retail & Chief Customer Officer. Lower-income consumers have been cutting back more substantially. Meanwhile, other areas of the economy more closely tied to wealthier consumers continue to outperform, especially travel.

Persons: Tracey D, Brown, we've, Ramon Laguarta, Jamie Baker Organizations: Walgreens, Walgreens Boots Alliance, Inc, Walgreens Retail, Target, Walmart, Conference Board, PepsiCo, American Airlines, JPMorgan Locations: Manhattan , New York City, U.S

☆ Miner Anglo American rejects third takeover offer from rival BHP Group as talks deadline extended
▼ + stars: | 2024-05-22 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

(Photo by William WEST / AFP) (Photo by WILLIAM WEST/AFP via Getty Images)LONDON — Anglo American rejected a third takeover proposal from rival BHP Group on Wednesday, as the companies agreed to extend talks deadline by one week. The British miner confirmed the third proposal from BHP offered about £29.34 per Anglo American share, based on undisturbed share prices as of market close on April 23. Shares of Anglo American were up 0.35% shortly after the announcement, while BHP shares fell over 3.4%. The combined companies would form a behemoth in copper mining and the world's largest player in the space, supplying 10% of global output, according to a Reuters analysis. Anglo rejected both previous offers, however, saying that they "significantly undervalue the company and its future prospects."

Persons: Stuart Chambers, Chambers, Duncan Wanblad Organizations: BHP, William WEST, WILLIAM WEST, Getty, BHP Group, London Stock Exchange, Limited, Iron Ore Limited, Rio Tinto Locations: Melbourne, Australian, AFP, American, London, Australia

☆ I toured the 600-room hotel with a pool and gym that American built exclusively for its employees — see inside Skyview 6
▼ + stars: | 2024-05-18 | by ( Taylor Rains | ) www.businessinsider.com time to read: +1 min

American Airlines opened a $250 million employee-only hotel at its Texas headquarters in 2023. The hotel features 600 rooms and numerous amenities, like a gym, an outdoor pool, and a cafeteria. The "hospitality complex" is a central space where employees can work, meet, study, and socialize. AdvertisementAmerican Airlines spent $250 million to build an employee-only hotel at its sprawling Texas headquarters that opened in January 2023. Eligibility extends to employees at American's mainline operation and its wholly-owned subsidiaries like Envoy Air, Piedmont Airlines, and PSA Airlines.

Persons: — Organizations: American Airlines, Service, Envoy, Piedmont Airlines, PSA Airlines, Business Locations: Texas, Dallas, Fort Worth

☆ Diamond giant De Beers faces spin-off amid wider restructuring as Anglo American takeover pressure mounts
▼ + stars: | 2024-05-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Diamond rings are displayed in a cabinet inside a De Beers SA store in Hong Kong, China, on Thursday, Sept. 14, 2017. Photographer: Calvin Sit/Bloomberg via Getty ImagesAnglo American plans to spin off its highly prized De Beers diamond unit as part of a sweeping restructuring of its 107-year-old business as it seeks to fend off persistent takeover bids from mining rival BHP Group . The British miner said in a statement Tuesday that De Beers could be divested or demerged to "improve strategic flexibility." CEO Duncan Wanblad said the restructure, which represents "the most radical changes to Anglo American in decades," would help streamline the business and provide greater value to shareholders. The announcement comes just a day after Anglo rejected an improved takeover proposal from BHP.

Persons: Bruce Cleaver, Calvin Sit, De Beers, Duncan Wanblad, Wanblad, — Organizations: De Beers SA, Bloomberg, Getty, BHP Group, BHP Locations: Hong Kong, China, London

☆ American Airlines is flying 70 World War II veterans to France for the 80th anniversary of the D-Day landings
▼ + stars: | 2024-05-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

American Airlines announced a charter flight to France for 70 World War II veterans. AdvertisementDozens of World War II veterans will enjoy a free flight to France to commemorate the 80th anniversary of the D-Day landings. American Airlines announced Wednesday that it will fly 70 veterans aboard a chartered Boeing 787-9 Dreamliner. It will fly 60 World War II veterans directly to Normandy for the third year in a row. AdvertisementOne of the veterans being flown by AA is Frank Perry — a former pilot with Piedmont Airlines, which later became part of American.

Persons: —, Frank Perry —, Felix Maurizio, We're, David Seymour Organizations: American Airlines, Forth, Service, Boeing, Fort Worth Airport, Delta Air Lines, AA, Piedmont Airlines, Army Air Corps, US Navy, Omaha Beach Locations: France, Dallas, Forth Worth, Paris, Normandy, Omaha

☆ 3 questions to ask yourself if you want to cut down on ultra-processed foods, according to a dietitian
▼ + stars: | 2024-04-29 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +5 min

Ultra-processed foods are linked to health problems such as cancer, type 2 diabetes, and obesity. Ultra-processed foods tend to be made from ingredients you wouldn't find in a regular kitchen and are manufactured using industrial techniques. "I think we're getting too bogged down with the term ultra-processed food, we just need to make it a bit simpler," Patel told Business Insider. It's also very important to look at food labels, Patel said, so that you actually know what you're eating. Ultra-processed foods make up 73% of the US food supply.

Persons: —, hasn't, Linia Patel, Patel, It's, UPFs, Aleksandr Zubkov, There's Organizations: Service, Northeastern University's Network Science Institute, British Dietetic Association, University of Milan, FDA Locations: UPFs, USA

☆ Anglo American rejects BHP's $39 billion takeover bid to form mining juggernaut
▼ + stars: | 2024-04-26 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Australia-based BHP on Thursday said it had made an all-share takeover offer which valued the smaller company at £31.1 billion ($38.9 billion). "The BHP proposal is opportunistic and fails to value Anglo American's prospects, while significantly diluting the relative value upside participation of Anglo American's shareholders relative to BHP's shareholders," he said. Anglo American Chairman Stuart Chambers said the proposed restructure was "highly unattractive, creating substantial uncertainty and execution risk borne almost entirely by Anglo American, its shareholders and its other stakeholders." Shares of Anglo American Platinum rose more than 2% on the announcement, while Kumba Iron Ore moved 0.9% lower. Chambers said that, in its current state, Anglo American was "well positioned" to benefit from that energy transition.

Persons: BHP's, Stuart Chambers, Chambers, — CNBC's Jenni Reid Organizations: BHP Group, BHP, CNBC, Limited, Iron Ore Limited Locations: Australia, London, American, South Africa

☆ BHP could aim for Rio Tinto after Anglo American rejects takeover offer, analyst says
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBHP could aim for Rio Tinto after Anglo American rejects takeover offer, analyst saysIn the wake of Anglo American's rejection of BHP Group's takeover bid, John Meyer, partner at SP Angel, said that other interested buyers, like Chinese state-owned companies, could step in with a better offer. He added that BHP could instead aim for Rio Tinto, as there is "much more at stake here" than at Anglo American.

Persons: John Meyer Organizations: Rio Tinto, BHP, SP Angel Locations: American, Rio

☆ Elliott takes $1 billion stake in Anglo American as miner faces takeover interest
▼ + stars: | 2024-04-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Elliott Management has built a roughly $1 billion stake in miner Anglo American in recent months, a person familiar with the matter told CNBC. Anglo American shares were up 5% on the news Thursday. News of the activist's position comes as the $43 billion, London-based miner faces takeover interest from BHP, a mining giant with worldwide operations. Anglo rejected BHP's $39 billion takeover offer Friday morning, saying BHP's offer "significantly undervalues Anglo American and its future prospects." Anglo American declined to comment.

Persons: Elliott, Stuart Chambers, BHP, CNBC's Karen Gilchrist Organizations: Elliott Management, CNBC, BHP, Bloomberg Locations: London, Australia

☆ Anglo American shares pop 12% after BHP Group's $39 billion takeover bid to form mining juggernaut
▼ + stars: | 2024-04-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Mining giant BHP Group on Thursday said it had made an all-share takeover offer for rival Anglo American , valuing the smaller company at £31.1 billion ($38.9 billion). Anglo American shares leapt at the market open and were 12% higher at 9 a.m. in London. Australia-based BHP, the biggest listed miner according to Companies Market Cap, said that the deal would deliver 0.7097 BHP shares per Anglo American share to Anglo American's ordinary shareholders. Anglo American has a huge copper operation based in South America and a production target for the metal of 730,000 to 790,000 tons in 2024. This compares with a copper output aim between 1.7 million and 1.9 million for BHP over the same period.

Organizations: Mining, BHP Group, BHP Locations: London, Australia, American, South America

☆ Trump flip-flopped on absentee voting — but don't expect his supporters to start trusting the system now, political scientist says
▼ + stars: | 2024-04-21 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Donald Trump has inexplicably flip-flopped from his years of previous remarks disparaging the voting system and is now supporting absentee and early voting. "Absentee voting, early voting, and election day voting are all good options," the former president wrote on Truth Social on Friday afternoon. This story is available exclusively to Business Insider subscribers. AdvertisementWhile "vote-by-mail" and "absentee voting" are phrases often used interchangeably, there are minor differences in the procedures for each system. AdvertisementNicholas Grossman, an assistant professor of Political Science at the University of Illinois, told Business Insider it's unlikely Trump will maintain his newfound position supporting absentee and early voting.

Persons: Donald Trump, Trump, Jack Smith, Mitt Romney, Barack Obama —, Nicholas Grossman, Grossman, he's, That's, couldn't Organizations: Service, Business, US Post Office, Los Angeles Times, Science, University of Illinois, GOP, Trump, CNN, Republicans Locations: Trump, California

☆ American Airlines is preparing for summer travel with new premium onboard amenities — take a look
▼ + stars: | 2024-04-17 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

American Airlines is launching its first rotating collection of premium amenities Memorial Day Weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAmerican Airlines is gearing up for summer travel with new luxury in-flight offerings for its customers. American is launching its first rotating collection of premium onboard amenities over Memorial Day Weekend. The offerings include new bedding, dining options, and an amenity kit program that lets premium passengers sample different skincare brands and products.

Persons: —, Kim Cisek Organizations: Airlines, Service

☆ Biden pulls even with Trump as economic view improves slightly, CNBC survey shows
▼ + stars: | 2024-03-26 | by ( Steve Liesman | ) www.cnbc.com time to read: +3 min

Evelyn Hockstein | David Swanson | ReutersAmericans' views on the economy have improved modestly, according to the latest CNBC All-America Economic Survey, helping President Biden pull even with Donald Trump in a head-to-head matchup. But former President Trump holds a commanding lead on several economic issues, like inflation, taxes and immigration, that voters say are most important in this election. The survey of 1,001 Americans across the country showed 46% of voters choose Trump and 45% picking Biden in a one-on-one match with 10% undecided. Younger Democrats, in fact, are evenly split on the presidents handling of foreign policy. While those issues look to be dragging on the president's approval, he has received a boost from somewhat better overall views on the economy.

Persons: Joe Biden, Donald Trump, Evelyn Hockstein, David Swanson, Biden, Trump, Jay Campbell, Hart, Micah Roberts, it's, they've Organizations: Reuters, CNBC, America Economic Survey, Trump, Biden, Hart Research, Democratic, Republican

☆ American says 80% of 2024 revenue will come from loyalty program members and premium cabins
▼ + stars: | 2024-03-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

American Airlines said Monday that 80% of its revenue this year will come from loyalty program members and passengers in premium cabins like business class, up from 70% in 2017. American and other carriers have poured billions of dollars into new cabins, lounges and onboard upgrades to cater to high-spending travelers. American's rival Delta Air Lines has repeatedly said that premium revenue growth has become a bigger share of its overall sales and is growing faster than ticket sales in the coach cabin. American earlier on Monday said it was ordering 260 new Boeing , Airbus and Embraer planes to revamp its fleet and that it would retrofit older Airbus planes to increase the size of their first-class cabins. Analysts polled by LSEG, formerly known as Refinitiv are projecting 2024 earnings per share of $2.56 and revenue of $54.97 billion.

Organizations: Boeing, American Airlines, JFK International, Delta Air Lines, Airbus, Embraer, LSEG Locations: Austin, New York, Manhattan, Fort Worth , Texas

☆ American orders 260 new planes, including Boeing Max 10s, and plans bigger first class
▼ + stars: | 2024-03-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

American Airlines flight 718, a Boeing 737 Max, takes of from Miami International Airport on its way to New York on December 29, 2020 in Miami, Florida. American Airlines said Monday that it is ordering 260 new narrow-body jets, including dozens of Boeing's long-delayed 737 Max 10. The order includes 85 of Boeing's 737 Max 10 planes and 85 of the Airbus A321neo, aircraft it says will help it upgauge on domestic and short-haul international routes. American said it would also convert orders for 30 Boeing 737 Max 8 planes, a model that is already a staple of its fleet, into the larger 737 Max 10s. American is planning to grow its first class on some of its narrow-body planes, the carrier also said Monday alongside its first investor day in more than six years.

Persons: Max, Scott Kirby Organizations: American Airlines, Boeing, Miami International Airport, Miami , Florida . American Airlines, Airbus, Embraer, United Airlines, Max Locations: New York, Miami , Florida, Fort Worth , Texas

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Microsoft, Delta, Disney, Snowflake, Okta, Salesforce & more
▼ + stars: | 2024-02-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating following the company's robust earnings report on Wednesday. "Multiple high-profile catalysts should double revs by FY28 & support an Outperform rating with a $54 PT." "We initiate coverage of Gates Industrial (GTES) with a Buy rating and $21 price target. The more aggressive stance follows a near week long sell-off in COLD shares following 4Q results and initial 2024 guidance." Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by its buy rating after a meeting with Microsoft investor relations.

Persons: Jefferies, Roth, Roth MKM, Morgan Stanley downgrades Snowflake, Morgan Stanley, Goldman Sachs, Salesforce, Goldman, it's, TD Cowen downgrades Macy's, Telsey, TD Cowen, Wells, Needham, " Jefferies, Tesla, Coupang, Baird, Cantor Fitzgerald, Cantor, Gates, Piper Sandler, Piper, Raymond James, William Blair, Gordon Haskett downgrades, Haskett, Frank Slootman's Organizations: Jefferies, Barrick Gold, NEM, UBS, Apple, Mar, Bitdeer Technologies, BTC, Citi, United Airlines, Delta, Delta Air Lines Inc, DAL, Deere & Company, American Airlines Citi, Catalyst Watch, Reliance, Star India, JV, UBS downgrades Republic Services, Downside, RBC, Xenia Hotels, Resorts, Deutsche Bank, Deutsche, Products, Gates, NTR, LXU, UW, Bank of America, underperform Bank of America, Realty Trust, Fidelity, Korn, Microsoft, Macquarie Locations: U.S, China, American's, DIS's, Xenia, Federal, Korea

☆ Kellogg's faces a backlash after encouraging cash-strapped shoppers to eat cereal for dinner: 'What the hell kind of dystopian hellscape is this?'
▼ + stars: | 2024-02-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Kellogg's is advertising cereal for dinner as an alternative for people struggling with food prices. WK Kellogg CEO Gary Pilnick told CNN last week that the messaging was "landing really well" with customers. Cereal prices shot up 13% in 2022Grocery prices soared during the pandemic as supply-chain chaos pushed up costs for producers. Advertisement"The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure," Pilnick told CNN. Pilnick told CNN last week that more than a quarter of cereal consumption is outside breakfast.

Persons: aren't, WK Kellogg, Gary Pilnick's, Pilnick's, —, Gary Pilnick, Marie Antoinette, Marianne Williamson, Pilnick, Sadie Garcia, Kellogg Organizations: Service, CNN, YouTube, American Academy of Pediatrics, American Heart Association, Bureau of Labor Statistics, Graham

☆ This startup is 'greening' homebuilding
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis startup is 'greening' homebuildingCNBC’s Diana Olick joins 'Power Lunch' to discuss how a startup company is helping American's make their homes greener.

Persons: Diana Olick, American's

☆ Prepare for house price growth to slow, says First American chief economist
▼ + stars: | 2024-02-22 | by ( Chris Johnston | ) www.businessinsider.com time to read: +3 min

First American's chief economist told Fortune that lower mortgage rates will cool price growth. First American chief economist Mark Fleming told Fortune that the pace of price growth has likely topped out because mortgage rates are poised to decline this year. The hikes fueled an increase in 30-year mortgage rates to more than 8% in October — a two-decade high. AdvertisementLower mortgage rates promise to boost demand, as buyers will be able to afford more expensive homes once again. "Shark Tank" investor Barbara Corcoran disagreed, predicting they would pop by 15% or 20% once mortgage rates dropped to about 5%.

Persons: Fortune, —, Mark Fleming, Sellers who'd, they'd, Fleming, Elon Musk, Barbara Corcoran Organizations: Service, First, Business

☆ American Airlines raises bag fees, won't allow some travel agency bookings to earn miles
▼ + stars: | 2024-02-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An American Airlines plane sits at the gate at Cancun International Airport on May 26, 2023. American Airlines has raised the price to check a bag for the first time in more than five years and said it would limit which travel agency bookings are eligible to earn frequent flyer miles. American Airlines last raised bag fees in September 2018 along with other major airlines. Frequent flyer members with elite status and some American Airlines credit card holders will still receive a complimentary checked bag. Customers who buy basic economy tickets will only earn frequent flyer miles if they book on American Airlines' website.

Persons: airfare Organizations: American Airlines, Cancun International Airport, U.S, Carriers Locations: Cancun, Canada, Caribbean, Mexico, Fort Worth , Texas

☆ Palestinian American's Stabbing in Texas Meets Hate Crime Definition, Police Say
▼ + stars: | 2024-02-07 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

By Kanishka Singh(Reuters) - The stabbing of a Palestinian-American man in Austin, Texas, over the weekend meets the definition of a hate crime and local prosecutors will determine charges, Austin police said on Wednesday. War in Israel and Gaza View All 194 ImagesA police statement on Wednesday said the police Hate Crimes Review Committee had determined the incident met the definition of a hate crime. It said local prosecutors will determine any further charges. Israel has responded with a ground and air attack on Hamas-ruled Gaza, killing more than 27,000 people, according to the local Palestinian health ministry. Previous U.S. incidents include a November shooting of three students of Palestinian descent in Vermont and the fatal October stabbing of a 6-year-old Palestinian American in Illinois.

Persons: Kanishka Singh, Austin, Bert James Baker, Baker, Nizar Doar, Israel, Howard Goller Organizations: Islamic Relations, CAIR Locations: Palestinian, Austin , Texas, Israel, Gaza, U.S, Vermont, Illinois, Washington

☆ A Gen Z diabetic said a 3-month supply of insulin pumps would cost her $1,800 — even with insurance
▼ + stars: | 2024-02-03 | by ( Allie Kelly | ) www.businessinsider.com time to read: +7 min

However, others, like 25-year-old Cochrin, are still seeking some relief for the costs of insulin and other necessary diabetes tools, like insulin pumps and continuous glucose monitors. While the costs of insulin have skyrocketed, and the direct medical costs of treating diabetes have also increased by about 7% since 2017. AdvertisementEarlier this month, Cochrin posted a TikTok explaining that a 3-month supply of her insulin pumps would cost her $1,800, even after insurance. Her continuous glucose monitor doesn't cost her anything right now, but in the past, she paid $30 a month with insurance. AdvertisementDifferent people may have increased sensitivity to different types and brands of insulin, Cochrin said, but insurance companies sometimes only offer one option for coverage.

Persons: —, Grace Cochrin's, Joe Biden, Eli Lilly, Sanofi, it's, Cochrin, She's, Campbell Hutton Organizations: Service, American Diabetes Association, National Institutes of Health, Business, White, US Department of Health, Human Services, that's Locations: Charlotte, North Carolina

☆ American announced one of the first routes for its new Flagship business seats deploying on Boeing 787-9s this year. It will also be its new longest flight.
▼ + stars: | 2024-02-02 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Notably, however, American said the flight will be operated by its upcoming Boeing 787-9 Dreamliner aircraft equipped with the carrier's brand new Flagship Suite seats. AdvertisementBrisbane is so far the only route revealed to be using the new seats, American confirmed to BI. The Flagship Suite product, which was first announced in September 2022, is a redesigned version of America's "standard" business class and premium economy seats. American's new Flagship Suite on its 787 Dreamliner. American did not specify to BI if Brisbane will be the inaugural route for the new Flagship Suite seats.

Persons: Thomas, Brian Znotins Organizations: Airlines, Brisbane Airport, Fort Worth International, Boeing, BI, Airbus, American Airlines, Galeão International, DFW, Turks, Virgin Islands, Cayman, Texas, Oneworld, Australian, Qantas, Melbourne . American Airlines Locations: Texas, Australia, Dallas, DFW, American, Brisbane, Los Angeles, Sydney, Veracruz, Mexico, Rio de Janeiro, Providenciales, Caicos, St, Virgin, Maui, Hawaii, Kona, Auckland, Zealand, New Zealand, Melbourne, United States

Some of the biggest analyst calls on Monday focused on a dollar store stock and a major U.S. airline. She assigned a $235 price target, which suggests shares could climb about 23.5%. The analyst maintained his buy rating and raised his price target by $30 to $455, which implies 15.4% potential upside from Friday's close. His $175 price target — down from $185 — implies 25.3% downside for the stock from Friday's close. The bank upgraded the airline to buy from neutral, raising its price target to $20 from $14.

Persons: Bernstein, Hershey, Alexia Howard, Howard, —, — Pia Singh, Jefferies, Brent Thill, Morgan Stanley, Norfolk, Ravi Shanker, Shanker, Raymond James Raymond James, Olivia Tong, Tong, Matthew Boss, Said, ̇, Boss, Stephen Trent, Fred Imbert Organizations: CNBC, JPMorgan, Citi, American Airlines, Hershey, Meta, Norfolk, Colgate, Palmolive, CL, American Airlines American Airlines Locations: U.S, Norfolk Southern

☆ American's housing shortage won't be solved for years to come
▼ + stars: | 2024-01-29 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Read previewThe tight housing market has shown recent signs of easing, but Moody's Analytics still anticipates Americans will face inventory snags for years to come. Based on data from the end of December, the monthly sales pace implies 3.2 months' of housing inventory, according to the National Association of Realtors. That shortage suggests a recovery in the housing market remains years away, the researchers said. "One good year of 'excessive' supply was only in its relative term when compared with affordability-constrained demand," Moody's researchers said. Ultimately, to Moody's, increasing housing inventory and rebalancing the market will take years of "joint effort and creativity" across the public and private sectors.

Persons: —, Nick Villa, Moody's Organizations: Service, Business, National Association of Realtors, NAR

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