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☆ Housing 'affordability has just totally collapsed,' economist says
▼ + stars: | 2024-04-02 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"Since the pandemic, affordability has just totally collapsed," said Chen Zhao, a senior economist at Redfin. February 2021 was the last month when the typical household earned more money than they needed to afford the median home. The U.S. Department of Housing and Urban Development (HUD) sets the standard of affordability at 30% of household income. Affordability deficit narrowed in FebruaryThe average household fell short $29,448 to afford a home in February, according to Redfin. The affordability deficit narrowed because rates have been on a consistent decline since the last peak in October, according to Zhao.

Persons: Chen Zhao, They've, Zhao, It's, Jeff Ostrowski, Veronica Fuentes, Fuentes, Ostrowski, Buyers, Redfin, Louis, What's Organizations: Getty, Redfin, Finance, U.S . Department of Housing, Urban Development, Northwestern Mutual, Cleveland Locations: U.S, Detroit, Pittsburgh, St, Philadelphia, Indianapolis, Warren, Mich, Cincinnati, Milwaukee , Kansas City , Virginia Beach, Va, Antonio, Columbus , Ohio

☆ Chair Powell says the Fed isn’t more tolerant of higher inflation. Some economists disagree
▼ + stars: | 2024-03-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some economists interpreted that as a sign that the Fed is now more tolerant of higher inflation. Powell pushed back on the perception that the central bank has grown more comfortable with inflation being higher for longer than expected in his post-meeting news conference. and my sense coming out of this month’s meeting was that Fed Chair Powell wants to get this easing cycle going sooner rather than later. What’s allowing the Fed to be patient or more tolerant of higher inflation? They’re willing to essentially look through some of the bumpiness in the inflation data at the beginning of the year.

Persons: Jerome Powell, That’s, Powell, “, ” Powell, “ We’re, Mohamed El, Erian, ”, Bell, Lydia Boussour, they’re, What’s, we’ve, Nathaniel Meyersohn, Read, Levi Strauss, Tupperware Organizations: Washington CNN, Federal Reserve, Financial Times, Fed, Home Depot, Home, P Global, Institute for Supply Management, Maine Foods, Dave, Buster’s Entertainment, US Labor Department, US Commerce Department, Stanford University Locations: EY, Cal

☆ Why investors should check the outstanding share count before buying a stock
▼ + stars: | 2024-03-31 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

But what if I told you this group shrunk its share count dramatically since 2019? The numbers tell the story: Lennar now has 276 million shares outstanding, down from 318 million five years ago. Other than Toll, most of the homebuilder management teams do not emphasize this fundamental change in share count. Management has been buying hand over fist since 2019, shrinking the share count to 215 million from 264 million. My rather unassailable conclusion is pretty simple: Check the share count before you buy a stock.

Persons: PulteGroup, DR Horton, —, Douglas Yearley hadn't, homebuilders, Jim Umpleby, Eaton, Dow, Cummins, Elliott, Marc Benioff, Colette Kress, Williams, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Federal Reserve, DR, Management, Dick's, Goods, Abercrombie, Fitch, Williams, Walmart, Caterpillar, DuPont, Marathon Petroleum, Elliott Management, Valero Energy, Pacific, Norfolk Southern, CSX, Apple, Microsoft, NFL, Jim Cramer's Charitable, CNBC Locations: tatters, California, Sonoma, America, Williams Sonoma, San Marcos , California

☆ 1 in every 13 bridges in America is in ‘poor’ condition. Thousands could collapse from a collision
▼ + stars: | 2024-03-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

A container ship colliding into the Francis Scott Key Bridge in Baltimore is drawing attention to potential vulnerabilities among some of America’s more than 600,000 bridges. The Key Bridge stood for 47 years, and in that time it never received the sort of jolt that anyone could have thought would bring it down. Extreme weather events, increasingly heavy trucks and collisions from larger container ships pose significant risks to US bridges, engineers and other infrastructure experts say. The Key Bridge was “fracture critical,” the National Transportation Safety Board said Wednesday. To minimize the potential of ships bringing down bridges, bridges need to be built with what are known as redundancies— protections around bridges’ danger points.

Persons: Francis Scott Key, Dali, Ananth Prasad, Prasad, ”, Jessie Yeung, Curt Devine, Casey Tolan, Isabelle Chapman Organizations: American Society of Civil Engineers, Congressional Research Service, National Transportation Safety, World Association, Transport Infrastructure, Florida Transportation Builders ’ Association, CNN Locations: Baltimore, America, United States, China, Argentina, Florida

☆ This winning sector could see even more upside once the Fed starts cutting rates, according to State Street
▼ + stars: | 2024-03-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Homebuilding stocks have reached new highs this year, and State Street's Matthew Bartolini sees more upside in store when the Federal Reserve begins cutting rates. "The thesis just comes down to economic resilience that is fueled by a strong labor market and a healthy consumer," said the managing director and head of SPDR Americas research. XHB YTD mountain Homebuilding ETF has surged more than 15% this year. The SPDR S & P Homebuilders ETF (XHB) has rallied nearly 17% year to date and about 70% over the past year. Homebuilding stocks have also benefited from a resilient economy that is led by a healthy labor market, and they stand to gain even more in a Federal Reserve rate-cutting cycle.

Persons: Matthew Bartolini, Bartolini Organizations: State, Federal Reserve, SPDR, Sonoma, Products, Carlisle Companies, Builders, Fed Locations: SPDR Americas, Williams

☆ Francis Scott Key Bridge collapse reverberates around the world
▼ + stars: | 2024-03-29 | by ( Ray Sanchez | ) edition.cnn.com time to read: +16 min

StreamTimeLive StreamTimeLive StreamTimeLiveAround the same time, numerous audible alarms were recorded on the ship’s bridge audio. The Dali container vessel after striking the Francis Scott Key Bridge. “Once you get here, I’ll go grab the workers on the Key Bridge and then stop the outer loop,” an officer said. When the Key Bridge was built decades ago, container ships were a fraction of the size and weight they are today. Miguel Luna, a native of El Salvador, was also working on the Key Bridge.

Persons: Francis Scott Key, ”, Jayme Krause, Nick Mosby, “ I’ve, Andy Middleton, Middleton, Dali, Marcel Muise, Scott Cowan, Baltimore –, Clay Diamond, Muise, Wes Moore, Diamond, ” Diamond, Al Drago, we’ve, “, Cowan, Jim Watson, Starr Smith, ’ ” Smith, Smith, ” Smith, ” John Zimmerman, They’re ‘, Maynor Yassir Suazo Sandoval, Miguel Luna, Dorlian Castillo Cabrera, Pima Castillo, Alejandro Hernandez Fuentes, Castillo, Alejandro Hernandez, Carlos Hernandez, Carlos Hernandez’s, Jazmin Alvarez, Hernández, Isabel Franco, Jose Mynor Lopez, Franco, Lilly Ordonez, Lopez, ” Rafael Laveaga, Holly Yan, Maria Santana, Melissa Alonso, Allison Gordon, Emma Tucker, Tina Burnside, Alex Stambaugh, Abel Alvarado, Aditi Sangal, Danny Freeman, Caroll Alvarado, Amy Simonson, Mary Kay Mallonee, Yahya Abou, Sabrina Souza, AnneClaire Stapleton, Antoinette Radford, Dakin Andone, Curt Devine, Casey Tolan, Isabelle Chapman, Elizabeth Wolfe, Lauren Mascarenhas, Elise Hammond, Gloria Pazmino, Alex Medeiros Organizations: CNN, Evening Sun, Bethlehem Steel, Eiffel, American, Maryland State Police, Sea Catholic, Walmart, National Transportation Safety, Chesapeake Bay, Longshoremen’s Association, Maryland Transportation Authority, American Pilots Association, ”, ” Maryland Gov, Bloomberg, Getty Images Transportation Authority, US Coast Guard, “ Dispatch, Police, Getty, Maryland, CASA, Brawner Builders, Univision, Authorities, Mexican Embassy Locations: Maryland, Fort McHenry, Sparrows Point, Baltimore, Patapsco, Port of Baltimore, India, Singapore, Baltimoreans, Sri Lanka, South Africa, Yemen, Red, Dali, MarineTraffic, ” Maryland, There’s, AFP, Middleton, Honduras, El Salvador, Mexico, Guatemala, Santa Bárbara, America, Dundalk, he’s, Mexican, Michoacan, Washington’s

☆ What Home Depot’s $18 billion deal says about its strategy
▼ + stars: | 2024-03-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —In its largest acquisition ever, Home Depot is expanding its business targeting professional contractors and builders as the home fixer-upper market stalls. SRS, which will operate independently, Home Depot noted, has 760 warehouses and more than 4,000 trucks to deliver its goods. Home Depot in recent years has purchased other businesses targeting professionals who undertake both complex and simple housing projects. Home Depot’s push for pro customers comes as its DIY customers have slowed their spending. Home Depot expects the SRS acquisition, accomplished through a mix of cash and debt, to be completed by the end of the year, but it could face regulatory hurdles.

Persons: Billy Bastek, Lina Khan Organizations: New, New York CNN, Home Depot, Home, Depot, Federal Trade, Meta, Microsoft, Kroger Locations: New York

☆ A body-clock researcher explains why he never eats high-protein meals at night, and waits 1 hour to eat breakfast
▼ + stars: | 2024-03-28 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +6 min

Read previewScientist Satchidananda Panda has always been fascinated by what our bodies' internal clocks can do for us. AdvertisementPanda says if you're going to eat a protein-rich meal, make sure you time it so it's not too late after dark. Randy Shropshire/Getty ImagesResearch shows that late-night eating prompts the body to overproduce stomach acid. This is advice some muscle-builders and other researchers disagree with — they say drinking protein shakes at night can help with muscle growth. Advertisement"If we eat a high protein load late in the night, then our stomach produces disproportionately more acid to digest that," Panda said.

Persons: —, Panda, Satchidananda, Randy Shropshire, he's, Oscar Wong Organizations: Service, Business, Salk Institute for Biological Studies, Getty, Research, San Diego firefighters Locations: Venice Beach, Venice , California

☆ Jim Cramer shares his thoughts on Walgreens, Home Depot, RH, Kimberly-Clark and Vornado
▼ + stars: | 2024-03-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "They need to be in this" business, Cramer said, noting that Builders FirstSource has been one of the best stocks in the S & P 500 lately. Cramer's CNBC Investing Club owns consumer-products giant Procter & Gamble . "This whole story about commercial real estate being in trouble, other than in San Jose, we're seeing improvement everywhere," Cramer said. Within banks, the CNBC Investing Club owns shares of Wells Fargo and Morgan Stanley .

Persons: Jim Cramer's, Jim Cramer, it's, Cramer, You've, Clark, They've, Morgan Stanley, Vornado Organizations: CNBC, Club, Walgreens Boots Alliance, Walgreens, Home Depot, Procter & Gamble, Vornado Realty Locations: San Jose, Wells Fargo

Jesus Campos said he worked at Brawner Builders alongside the men missing after a bridge collapse in Baltimore. “We’re low-income families,” said Jesus Campos, who has worked at the construction company, Brawner Builders, for about eight months. The executive, Jeffrey Pritzker, and the Coast Guard said that all of the missing workers were presumed dead, given how long it had been since the collapse. Embassies for the other two countries mentioned by Mr. Campos did not immediately respond to requests for comment. Officials said that in addition to the six missing workers, two people had been rescued from the water.

Persons: Jesus Campos, “, ”, Jeffrey Pritzker, Mr, Pritzker, “ It’s, Campos, Francis Scott Key, Miguel Luna, Luna, Gustavo Torres, Jacey Fortin, Miriam Jordan, Patricia Mazzei, Emiliano Rodríguez Mega, Kirsten Noyes Organizations: Brawner Builders, Brawner, Coast Guard, Baltimore Banner Locations: Baltimore, Baltimore County, El Salvador, Guatemala, Honduras, Mexico, Maryland, Petén, Mexican, Washington, Brawner

China’s economy has struggled to recover from severe self-imposed restrictions during the COVID-19 pandemic that it lifted only at the end of 2022. But Xi said that China was again contributing to world economic growth in the double digits percentage-wise. China's economy has been bogged down by a crisis in its property market in which builders are struggling under mountains of debt, and buyers are paying off loans on apartments that may never be completed. Other issues, such as an aging population and high youth unemployment, are prompting China's leaders to lean more heavily on boosting export manufacturing to make up for weak demand at home. “The respective successes of China and the United States create opportunities for each other," Xi was quoted as saying by Xinhua.

Persons: —, Xi Jinping, Xi, ” Xi, Stephen A, Biden, Donald Trump, “, Craig Allen, China's, Antony Blinken, Janet Yellen Organizations: BEIJING, U.S, Communist Party, China's, Xinhua News Agency, Blackstone . Trade, U.S ., China Business Council, Apple, Xinhua Locations: Beijing, China, U.S, United, Washington, San Francisco, Taiwan, Hong Kong, Tibet, Xinjiang, People's Republic, United States

On Wednesday, divers worked through dangerous conditions searching for the bodies of the six missing men. Two were recovered from a submerged vehicle, and the other four are presumed dead, officials said. Maynor Yasir Suazo Sandoval, in his 30s, of Honduras, immigrated to the United States more than 17 years ago, according to Mr. Torres, and is married with two children. All but one of the eight men worked for Brawner Builders, a contractor based in Baltimore County, the company said. The men who went missing after the collapse were all immigrants from El Salvador, Guatemala, Honduras and Mexico, according to consular authorities and the nonprofit.

Persons: Francis Scott Key, Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Miguel Luna, Gustavo Torres, Luna, Maynor Yasir Suazo Sandoval, Torres, Suazo’s, Carlos, ” Carlos Suazo, Kirsten Noyes Organizations: CASA, The Times, Mr, Brawner Builders Locations: Baltimore, Dundalk, Md, El Salvador, Maryland, Honduras, United States, Baltimore County, Guatemala, Mexico

☆ Baltimore construction company says one of its workers survived bridge collapse
▼ + stars: | 2024-03-27 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

A member of Brawner Builders survived the Francis Scott Key Bridge collapse. The bridge collapse was triggered by a ship collision. AdvertisementOne construction worker survived the devastating collapse of the Francis Scott Key Bridge in Baltimore on Tuesday morning. Six other workers are presumed dead, Jeffrey Pritzker, the executive vice president of Brawner Builders, the workers' employer, confirmed to Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Francis Scott Key, —, Jeffrey Pritzker, Pritzker Organizations: Builders, Service, Brawner Builders, Business Locations: Baltimore

☆ The market is near all-time highs. That doesn't mean it can't go much higher
▼ + stars: | 2024-03-27 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Looking at the recent performance of the market and several stocks in our portfolio, one thing is clear: This is a market that wants to go higher. We would much rather see stocks up on strong earnings instead of rising on lower rates that are only lower because the operating environment is deteriorating. But it's important to understand, at a high level, what kind of market we are still in — a bull market seeking new heights. We are fielding a lot of questions about how one should approach a market near all-time highs. Now, that doesn't mean stocks are on a one-way march higher and a pullback is impossible.

Persons: Jerome Powell, we've, We're, We'll, it's, –, Morgan Stanley, Coterra, Jim Cramer's, Jim Cramer, Jim, Erik McGregor Organizations: Federal Reserve, Fed, Linde, DuPont, Coterra Energy, Jim Cramer's Charitable, CNBC, Financial, LightRocket, Getty Locations: —, U.S, Russia, Ukraine, China, Taiwan, New

☆ Missing Baltimore construction workers were migrants from Mexico and Central America: reports
▼ + stars: | 2024-03-27 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +1 min

Six construction workers are presumed dead after Baltimore's Francis Scott Key Bridge collapsed. They are all migrants from Central America, their coworker told The Baltimore Banner. The workers are presumed dead, and recovery efforts are underway. AdvertisementNew information is emerging about the six construction workers who are presumed dead after Baltimore's Francis Scott Key Bridge collapsed Tuesday morning. The workers were all migrants from Mexico and Central America, according to reports.

Persons: Baltimore's Francis Scott Key, —, Jesus Campos Organizations: Baltimore Banner, Service, Brawner Builders, Business Locations: Central America, Mexico, El Salvador, Guatemala, Honduras

☆ Baltimore Bridge Collapse Victims Were Working to Support Families, Co-Worker Says
▼ + stars: | 2024-03-26 | by ( Nicholas Bogel-Burroughs | ) www.nytimes.com time to read: +1 min

A construction company employee who said he labored alongside the six men missing after a Baltimore bridge collapse on Tuesday said many of his co-workers were migrants working to support their relatives. “We’re low-income families,” said Jesus Campos, who has worked at the construction company, Brawner Builders, for about eight months. The executive, Jeffrey Pritzker, and the Coast Guard said that all of the missing workers were presumed dead, given how long it had been since the collapse. Mr. Pritzker said that Brawner’s owner was distressed and spent the early Tuesday hours near the bridge hoping for a rescue, and has also since met with families of all of the missing workers. He wore a black sweatshirt bearing the construction company’s name and milled about, waiting for news and speaking on the phone.

Persons: “, ”, Jesus Campos, Jeffrey Pritzker, Mr, Pritzker, “ It’s, Campos, Francis Scott Key Organizations: Brawner, Coast Guard Locations: Baltimore, Baltimore County

☆ Home renovation frozen in time reveals Roman building technique
▼ + stars: | 2024-03-26 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +4 min

Rome CNN —Archaeologists excavating the site of Pompeii have uncovered an ancient building site, revealing Roman construction techniques used by builders at the time, according to the Italian Ministry of Culture. The ancient Roman city of Pompeii was home to up to 20,000 people before it was destroyed in the 79 AD eruption, which was visible from more than 40 kilometers (25 miles) away. Archaeologists have found what would have been an active construction site - perhaps more accurately described as a home renovation, according to Massimo Osanna, the general director of the site, in a press statement released Monday. Archaeologists say the site reveals the secrets as to how Roman structures have proven to be so durable. Courtesy Italy Ministry of CultureThe latest findings paint a fuller picture of how ancient Romans lived.

Persons: Rome, Massimo Osanna, ” Osanna, Achilles, Skyros, Gabriel Zuchtriegel, Caracalla, ”, Zuchtriegel, Gennaro Sangiuliano Organizations: Rome CNN —, Italian Ministry of Culture, Archaeologists, Italy Ministry of, Massachusetts Institute of Technology, MIT Locations: Pompeii, Italy, cocciopesto

☆ Baltimore construction company says 1 of their workers survived bridge collapse
▼ + stars: | 2024-03-26 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +1 min

A member of Brawner Builders survived the Francis Scott Key Bridge collapse. The bridge collapse was triggered by a ship collision. AdvertisementOne construction worker has survived the devastating Tuesday morning collapse of the Francis Scott Key Bridge in Baltimore. Six other workers are presumed dead, however, Jeffrey Pritzker, the executive vice president of Brawner Builders, the workers' employer, confirmed to Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: Francis Scott Key, —, Jeffrey Pritzker, Pritzker Organizations: Builders, Service, Brawner Builders, Business Locations: Baltimore

☆ Home prices rose 2.4 times faster than inflation since 1960s, study finds. What that means for homebuyers
▼ + stars: | 2024-03-19 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

"When demand for other consumer products comes up, or when it increases, it's usually not too hard for people to scale up supply," Brannon said. Moreover, the current housing affordability makes 64.2% of owners and renters have negative feelings about the economy, Redfin found. In fact, affordable housing is a pressing topic for both liberal and conservative voters: the topic is ranked as No. 1 for liberals while it's No.3 for conservatives, according to a separate survey by The Real Estate Witch. To address the issue, President Biden announced in early March as part of his budget for fiscal 2025, a plan to cut housing costs, boost supply and expand access to affordable housing.

Persons: Brannon, Kirabo Jackson, Qualtrics, Redfin, it's, doesn't, Brennon, Biden Organizations: Westend61, U.S . Census, White House Council, Economic Advisers, CNBC Locations: U.S

☆ A glimpse into Sam Altman's 2-hour-long bid to look like the saner, less chaotic foil to Elon Musk
▼ + stars: | 2024-03-19 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Read previewSam Altman is warring with Elon Musk. Musk told Lemon he takes a small amount of ketamine "once every other week" and that he uses the drug "when my brain chemistry sometimes goes super negative." Related stories"So from investors' standpoint, if there is something I'm taking, I should keep taking it," Musk told Lemon. The billionaire told Lemon that he thinks people shouldn't make racism "a constant subject" and that they should "move on" from the topic altogether. "You're upsetting me because the way you phrase your questions is not cogent," Musk told Lemon.

Persons: —, Sam Altman, Elon Musk, Lex Fridman, Altman, OpenAI's ChatGPT, Elon, Fridman, Don Lemon, Lemon, Musk, Donald Trump, bLRae4DhyO, Brad Stone, Anna Makanju, Stone, " Altman, They're, OpenAI, Musk's Organizations: Service, Google, Business, CNN, Elon, Tesla, OpenAI, Microsoft, Business Insider Locations: Davos, Elon

☆ Sam Altman says he thought Elon Musk would have 'more empathy' for OpenAI's big dreams because it 'wasn't that long ago Elon was crazily talking about launching rockets'
▼ + stars: | 2024-03-19 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Read previewOpenAI CEO Sam Altman says he thought his former cofounder Elon Musk would have had "more empathy" for the AI company's huge ambitions. Altman referenced Musk's spacefaring ambitions with his rocket company SpaceX, while discussing Musk's lawsuit against OpenAI. In his lawsuit, Musk accused the company of violating its nonprofit mission when it partnered with Microsoft. But Musk, Altman said, had at one point wanted to "make OpenAI into a for-profit company that he could have control of." To ClosedAI and I will drop the lawsuit — Elon Musk (@elonmusk) March 6, 2024Altman isn't the only one to have expressed disappointment at Musk's behaviour.

Persons: —, Sam Altman, Elon Musk, Elon, Altman, podcaster Lex Fridman, Musk, Fridman, — Elon, Vinod Khosla, Khosla, who've, didn't Organizations: Service, Business, SpaceX, OpenAI, Microsoft, Business Insider

☆ Home prices likely to keep rising even as lower mortgage rates bring more supply, according to BofA
▼ + stars: | 2024-03-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Existing home prices should keep climbing when mortgage rates slide, Bank of America said. The number of existing home sales on offer fell last year as mortgage rates rose and sellers opted to wait it out to hold onto lower rates they locked in years ago. "As of January, the median sales price of existing single-family homes had grown 5% y/y, while the price for new single-family homes fell 3% y/y." AdvertisementSo far in 2024, mortgage rates have come down from multi-year highs seen last October, falling to 6.74% this month. January's existing home sales were the highest since August, and even small declines in mortgage rates are enough to encourage bursts of activity.

Persons: —, It's, Redfin, Skylar Olsen Organizations: of America, Service, Bank of America, CNBC

☆ Homebuilder sentiment turns positive for the first time since July
▼ + stars: | 2024-03-18 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Homebuilder sentiment rose 3 points in March to 51 on the National Association of Home Builders/Wells Fargo Housing Market Index. Sentiment also moved into positive territory for the first time since July. Fifty is the line between positive and negative sentiment. "But even though there is strong pent-up demand, builders continue to face several supply-side challenges, including a scarcity of buildable lots and skilled labor, and new restrictive codes that continue to increase the cost of building homes." Regionally, on a three-month moving average, sentiment rose most in the Midwest and West.

Persons: Carl Harris, Robert Dietz Organizations: National Association of Home Builders, West, Builders, Federal Reserve Locations: Wells Fargo, Wichita , Kansas, Midwest

☆ Presidential election or not, economists say, the Fed will cut interest rates in the fall if it must
▼ + stars: | 2024-03-17 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Fed officials have said they will begin to cut rates whenever they have “gained enough confidence” that inflation is under control. The Bank of Japan announces its latest interest rate decision. The Reserve Bank of Australia announces its latest interest rate decision. The Federal Reserve announces its latest interest rate decision and releases a fresh set of economic projections, followed by a news conference featuring Chair Jerome Powell. The Bank of England announces its latest interest rate decision.

Persons: Wall Street’s, “, ” Kathy Bostjancic, ”, Jerome Powell, ” Powell, Fed hasn’t, Nathaniel Beck, Elizabeth Warren of, Powell, lambasting, Donald Trump, reappoint Powell, ” Kayla Bruun, David Goldman, Anna Bahney, Cowen, Lennar, Mills Organizations: CNN Business, Bell, Washington CNN, Federal Reserve, Fed, Nationwide, CNN, Elizabeth Warren of Massachusetts, Democratic, Republican, Morning, National Association of Realtors, NAR, Realtors, Toll Brothers, National Association of Home Builders, Bank of Japan, Reserve Bank of Australia, US Commerce Department, Micron Technology, Prudential, Accenture, Nike, FedEx, lululemon, Darden, Academy Sports, Bank of England, US Labor Department, Global Locations: Washington, Wells Fargo

☆ I've made over $50,000 building AI tools for businesses. My main challenge: managing clients' expectations.
▼ + stars: | 2024-03-16 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

The 25-year-old's mission is to help clients make more money using large language models. Now, I run a consultancy that tries to help companies grow using AI — and business has been booming. Most projects use AI models from leading LLM providers like OpenAI, Anthropic, and Cohere. My main advice for businesses interested in adopting AI is to familiarize yourself with large language models and how they could be used to address specific pain points. After that, collect as much data as possible — from meeting recordings to marketing materials — that can be used to fine-tune the AI models.

Persons: Sasha Aptlin, —, ChatGPT, I've, that's Organizations: Service, Founders Locations: Dubai and New York, chatbots, San Francisco

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