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CNN —Israeli forces entered the compound of northern Gaza’s Kamal Adwan Hospital and opened fire after days of laying siege to the facility, health authorities in the enclave said. The Gaza health ministry and the director of the hospital in Beit Lahiya, northern Gaza, have told CNN that the Israeli military twice entered the hospital compound over the past 24 hours and fired at parts of the complex. Kamal Adwan is one of three minimally operational hospitals in northern Gaza, and the closest to Israeli military activity in Beit Lahiya and the Jabalya Refugee Camp. We have nothing to offer them.”It has been 21 days since Israel ramped up its military operation in northern Gaza. Authorities in Gaza say the military has stopped aid from reaching parts of the area and displaced many of its residents.
Persons: Kamal Adwan, Dr Hussam Abu Safiya, Tedros Adhanom Ghebreyesus, ” Ghebreyesus, Kamal Adwan “, WHO’s Ghebreyesus, , ’ Maher Shamiya, Shamiya, , Safiya, Abu Safiya, , Israel ramped Organizations: CNN, Health, World Health Organization, WHO, Shifa, Getty, UNICEF, Intensive Care Unit, Authorities Locations: Gaza, Beit Lahiya, AFP, Jabalya, Israel
Two swing states — Arizona and Pennsylvania — exemplify in their own ways how housing markets across the country have failed to address the key issue they face: too few homes. Sprawling subdivisions helped accommodate the growing population and were enough to keep housing costs relatively low through the early 2010s. As demand spiked, snarled supply chains helped inflate construction costs. Home prices have risen 39% since January 2020, Horowitz noted, even though the state's population is shrinking. Like many other states, Pennsylvania has underbuilt housing since the 2008 financial crisis, which tanked the housing market.
Persons: , Alex Horowitz, it's, Horowitz, Mario Tama, we've, Ben Metcalf, Metcalf, Josh Shapiro, Shapiro, Tucson Mayor Regina Romero, Kamala Harris, Donald Trump, He's, Harris, Redfin, Noah Sheidlower Organizations: Service, Pew's, Business, Getty Images, Terner Center, Housing Innovation, UC Berkeley, of Labor Statistics, Pennsylvania, Tucson Mayor, Federal Reserve Locations: Michigan, Wisconsin , Pennsylvania, Arizona, Georgia, North Carolina, Nevada, Zillow, Pennsylvania, Phoenix, . Pennsylvania
The Education Department released its proposal to provide student-debt relief to borrowers facing hardship. AdvertisementPresident Joe Biden's Education Department has released another student-debt relief proposal — this time for borrowers facing hardship. "The rules proposed by the Biden-Harris Administration today would provide hope to millions of struggling Americans whose challenges may make them eligible for student debt relief." After that, the public will be able to submit comments and offer feedback to the Education Department on the plan. "If you are having to take on student debt, that is the hardship, point blank, period."
Persons: , Joe Biden's, it's, Miguel Cardona, Harris, Cardona, Wisdom Cole, Persis Yu Organizations: Education Department, Service, Joe Biden's Education Department, Biden, Harris Administration, Federal, Education, GOP, Protection
In today's big story, inside Amazon's internal pitch for turning to nuclear power to meet its growing energy needs . AdvertisementThat's led Big Tech to consider nuclear power to address its skyrocketing energy requirements. Nuclear power ticks that box better than other clean energy options like solar or wind. Nuclear power, meanwhile, is an industry in desperate need of some love , BI's Daniel Geiger and Ellen Thomas previously reported. From advertising platforms to AI tech companies, here's the startups to watch .
Persons: , Jocko Willink, we've, Jenny Chang, Rodriguez, That's, Business Insider's Eugene Kim, Andy Jassy, it's, Sam Altman, Eugene, BI's Hasan Chowdhury, BI's Daniel Geiger, Ellen Thomas, Jim Burke, Vistra, Chelsea Jia Feng, Elon Musk, Jean Boivin, He's, Marc Benioff isn't, bashed, Miles Brundage, OpenAI, Emma Tucker's, Tucker, Mike Jeffries, SpaceX's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Navy, Big Tech, Amazon, Microsoft, Google, Keystone, Hulton, Constellation Energy, Getty, EV, BlackRock Investment Institute, San Francisco, BI, AGI, Abercrombie, Fitch Locations: Fukushima, Pennsylvania, Arizona, New York, London
Investors agree: Short-term rentals are more lucrative but require more time than long-term rentals. Grant puts up with the occasional blow-up because her Airbnb units bring in a lot more money than her long-term rentals. Especially with higher interest rates, which increase your monthly mortgage payment, "long-term rentals are just hard," said seasoned real-estate investor Zeona McIntyre. Courtesy of Amberly GrantFull-time real-estate investor Avery Heilbron categorizes short-term and long-term rentals as "two completely different things." AdvertisementThe 'sweet spot' of real-estate investing: Mid-term rentalsShort- and long-term rentals aren't the only options for real-estate investors.
Persons: , Amberly Grant, Grant, Zeona McIntyre, Avery Heilbron, There's, McIntyre, Covid, Airbnb, she'd, Heilbron, Peter Keane, Rivera, he's, Keane Organizations: Service Locations: Colorado, Boulder, Seattle
UBS says buy this homebuilder with more than 25% upside
  + stars: | 2024-10-25 | by ( Sean Conlon | ) www.cnbc.com   time to read: +1 min
Analyst John Lovallo initiated coverage on the stock with a buy rating, with his price target of $232 implying more than 27% upside from Thursday's close. Lovallo joins 11 other analysts covering the stock on Wall Street who have a strong buy or buy rating, per LSEG. Within that same time, he also sees adjusted earnings growing roughly 16% annually and mid-to-high single-digit organic revenue growth. "We believe BLDR is uniquely positioned to grow with its homebuilder customers and drive above market organic growth through its size/scale advantage and idiosyncratic growth initiatives, including the digital platform rollout," Lovallo also said. BLDR YTD mountain BLDR, year-to-date The stock rose around 1% in premarket trading Friday after his move.
Persons: John Lovallo, Lovallo Organizations: UBS, Wall Locations: FirstSource, U.S
Billionaires Darwin Deason, Michael Dell, and Tony Pritzker are trying to offload homes right now. It can take a long time for extremely expensive or unique homes to find buyers. AdvertisementBillionaires regularly want to offload their homes, but the housing market can present some unique challenges for the wealthiest home sellers. At least two billionaires have found buyers for their homes this fall. A handful of billionaires, however, have homes they're still trying to sell.
Persons: Darwin Deason, Michael Dell, Tony Pritzker, , Gordon Getty, Getty, Rupert Murdoch's Organizations: Service, of Wings, Media, Fox Corporation, News Corp Locations: Boston, Berkeley, San Francisco, Manhattan, California
Venice, Italy CNN —It caused ripples of confusion among tourists and anger among locals, but the Venice entry fee for day-trippers is here to stay. The fee structure will be changed, as well – from a flat 5 euro ($5.40) in 2024 to a two-tier system. Visitors who pay the fee more than four days ahead of their visit will pay the 5 euro fee. The council has not said how it plans to enforce tourists using the bags assigned to them, however. Landlords have 120 days to register their properties after the date on which the city council approves the plans, assuming that it does.
Persons: , Luigi Brugnaro, Andrea Merola, Brugnaro Organizations: Italy CNN, Visitors, Piazzale Roma, Bloomberg, Getty Locations: Venice, Italy, Murano, Mestre, “ Venice, Europe, Airbnb, New York, Paris, Barcelona, Berlin
watch nowMany factors make it hard to buy a home today, but the one that makes "the biggest difference" in today's market is the housing shortage, Property Brother Drew Scott said at CNBC's Your Money event on Thursday. "I don't think people realize this shortage of housing that we have affects everything," added his brother Jonathan Scott. Why there's a housing shortageAs of mid-2023, there's a housing shortage of 4 million homes, according to the National Association of Realtors. While there have been recent signs of improvement for housing supply, it's not enough to solve the underlying constraint in the U.S. housing market. 'It's ok if you wait a few years'The Property Brothers Drew Scott (L) and Jonathan Scott.
Persons: Drew Scott, Jonathan Scott, Jonathan, Jason Davis Organizations: Census, Federal Reserve, CNBC, National Association of Realtors, Construction, Getty Locations: U.S
An encampment of unhoused people in downtown New Orleans was forcibly relocated by the order of Louisiana Gov. Jeff Landry ahead of this weekend's Taylor Swift concerts, disrupting monthslong housing efforts with less than a week's notice. "It's not like Taylor Swift all of a sudden decided to come to New Orleans," Harris said. We, as a city, knew that Taylor Swift was coming, but there wasn't a conversation had other than last Friday." "So this is working, what we're doing is working," Harris said.
Persons: Jeff Landry, Taylor Swift, Lesli Harris, Swift, Harris, rumblings, Landry, Kate Kelly, ” Kelly, Burger, Joseph Neiswander, Helena Moreno, WDSU, Nathaniel Fields, Nola.com, Taylor Organizations: Louisiana Gov, Caesars Superdome, NBC News, New, Louisiana State Police’s, Louisiana State Police, State, Good, Burger King Locations: New Orleans, Louisiana, Orleans, Nola.com
As Wall Street financiers snapped up huge swaths of the nation’s rental housing market in recent years, the deals sailed through unchallenged. But large purchases of rental homes and apartment buildings by private equity firms like KKR are another cause, research shows. The Private Equity Stakeholder Project, a nonprofit that monitors the industry’s impact on individual Americans, has identified more than 5,100 apartment complexes owned by more than 30 private equity companies in America, totaling almost 1.4 million units. Jim Baker, executive director at the Private Equity Stakeholder Project, welcomes the scrutiny the senators are bringing to the KKR transaction. More than two-thirds of the apartment units in those states are owned by private equity, he said.
Persons: Sen, Elizabeth Warren, ” Warren, Raphael Warnock of Georgia, Peter Welch of, Ron Wyden, Kamala Harris, Ohio Sen JD Vance, Donald Trump’s, Noelle Porter, Noelle Porter Noelle Porter, Porter, “ They’ve, ” Porter, “ We’ve, we’ve, Fannie Mae, Freddie Mac, Jim Baker, Washington — Organizations: Wall Street, KKR, NBC News, Harvard University’s, for Housing Studies, Harvard, Income Housing Coalition, Ohio, Companies, Equity, Housing, Financial Reform, Financial, National Housing Law, Navy Yards, Washington , D.C, Brookfield Properties, Asset Management, District of Columbia, Federal Trade Commission, Brookfield, Federal Housing Finance Agency, Private Locations: Peter Welch of Vermont, Oregon, United States, U.S, Puerto Rico, America, Washington ,, California , Colorado , Florida, Georgia, North Carolina , New Jersey , Texas, Washington
In the final days of the race, Harris is expected to stress that she still believes she and her running mate, Minnesota Gov. Tim Walz, are the “underdogs” in the race and that “nothing can be left on the field,” a Harris aide said. Harris has also started to use video clips of Trump’s comments at her rallies, a pattern that is expected to continue. A Harris campaign aide said the strategy is viewed as a “smart way to force a conversation about him.”“A huge part of our thinking is that we need to show his lack of fitness,” the person said. “Donald Trump’s comments continue to become more bizarre and more strange, and that’s something that should concern the American people and, in these closing days,” Garcia told NBC News on Wednesday, “Kamala Harris will make that argument.”
Persons: WASHINGTON —, Kamala Harris, Harris, Barack Obama, Michelle Obama, Donald Trump, Tim Walz, Trump, , Joe Biden, , ” Harris, Robert Garcia, “ Donald Trump’s, ” Garcia, “ Kamala Harris Organizations: WASHINGTON, Democratic, Minnesota Gov, , Trump, Harris, NBC News Locations: Georgia, Michigan, American
Expectations of a Fed rate cut caused mortgage rates to drop to a two-year low of 6.08% in late September, but it failed to spur homebuying activity. Every percentage point on a mortgage rate makes a big difference for that monthly payment. Here’s what’s driving the recent upswing in mortgage rates. Mortgage rates track the 10-year US Treasury yield, which was expected to fall in anticipation of further rate cuts. “I am clearly not going to own any fixed income.”The government’s fiscal situation might already be having an impact on mortgage rates.
Persons: Freddie Mac, pare, what’s, ” Sam Khater, Freddie Mac’s, Robyn Beck, Donald Trump, Kamala Harris, Harris, “ We’re, Paul Tudor Jones, , ” Lawrence Yun, Kimberly Bradley, Zach, Kimberly, “ I’ve, ” Kimberly, ” Ken Lowrey, Ken Lowrey, “ homeownership, , Lowrey Organizations: Washington CNN, Federal Reserve, National Association of Realtors, Mortgage, Association, Treasury, Getty, Federal Budget, Trump, CNBC, US Postal Service Locations: AFP, Manteo , North Carolina, Charleston , South Carolina
Market Navigator: Navigating the health of the housing sector
  + stars: | 2024-10-24 | 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 EmailMarket Navigator: Navigating the health of the housing sectorJim Egan, Morgan Stanley U.S. securitized products research, joins 'Power Lunch' to discuss the health of the housing sector.
Persons: Jim Egan, Morgan Stanley Organizations: Morgan Stanley U.S
This, despite the fact that younger investors were more optimistic about the economy, their incomes, their living situations, and their investments. Millennial investors have been deeply scarred by two life-changing crises in their young lives. But if you look at hard numbers from the Federal Reserve about what millennial investors actually own, you can see that this stereotype is misguided. When you compare millennials' cash levels with Gen X's cash levels at the same age, though, the risk aversion becomes clear. But when it comes to younger investors, I think the scars run deeper than worries about a coming downturn.
Persons: Cash, it's, millennials, Gen Xers, boomers, There's, would've, you'd Organizations: Bank of, Federal Reserve, University of Michigan, Occupy, Dow, Netflix Locations: eToro, United States, YOLO
Compass CEO Robert Reffkin talks the housing market
  + stars: | 2024-10-24 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass CEO Robert Reffkin talks the housing marketRobert Reffkin, Compass CEO & co-founder, joins 'Closing Bell Overtime' to talk integrating AI into its business, latest housing data, and more.
Persons: Robert Reffkin Organizations: Compass
Key lines from Kamala Harris’ town hall on CNN
  + stars: | 2024-10-24 | by ( Zachary B. Wolf | ) edition.cnn.com   time to read: +12 min
CNN —Vice President Kamala Harris tried to engage undecided and persuadable voters at a CNN town hall in Delaware County in the key state of Pennsylvania on Wednesday. Vice President Kamala Harris participates in a CNN Presidential Town Hall moderated by CNN’s Anderson Cooper in Delaware County, Pennsylvania, on October 23, 2024. Rebecca Wright/CNNFor people looking for specifics on policy, Harris did not offer many details, although she did talk about a new $6,000 child tax credit for newborns and addressing housing affordability. HarrisCNN’s Anderson Cooper moderates a CNN Presidential Town Hall with Vice President Kamala Harris in Delaware County, Pennsylvania, on October 23, 2024. HarrisOn banning fracking in particular, Cooper asked an important question.
Persons: Kamala Harris, Donald Trump, CNN’s Anderson Cooper, Trump’s, John Kelly, they’re, He’s, Cooper Harris, Kelly, Harris Cooper, Harris, Trump, ” Harris, , Harris Harris, Rebecca Wright, Republicans – haven’t, We’ve, Harris That’s, Liz Cheney, what’s, I’ve, Biden, dissing Joe Biden, Joe Biden, Cooper, Harris CNN’s Anderson Cooper, CNN Cooper, I’m, COOPER, HARRIS, , Esther, , Harris Esther, – Harris, , ” He’s Organizations: CNN —, CNN, Trump, New York Times, Trump Republicans, Democrat, CNN Presidential, Democrats, Republicans, Hall, United, Democratic, fracking Locations: Delaware County, Pennsylvania, Delaware County , Pennsylvania, Wade, Israel, United States, Persia, California
Commercial real estate foreclosures spiked last month. AdvertisementCommercial real estate foreclosures jumped on a monthly and year-over-year basis in September, according to real estate data and analytics firm ATTOM. Commercial foreclosures saw the biggest year-over-year increase in California, with foreclosures on commercial buildings soaring 238% from the same time last year. In New York, foreclosures rose 48% year-over-year, while in Florida, foreclosures rose 49% year-over-year. Related storiesReal estate experts have been warning of more distress to come for commercial real estate, particularly in the office segment.
Persons: ATTOM, Organizations: Service, Mortgage, Association, International Monetary Fund Locations: California, ATTOM's, New York, Florida
But there are some weak points — like a growing federal debt load. There are a few less-rosy data points out there, like rising long-term unemployment and a historically high level of federal debt. Federal debt is high compared to GDP, even looking beyond the spike of the debt as a share of GDP during the pandemic. While federal debt as a share of GDP was slightly above 100% before the pandemic, recent figures are much higher than in the past. Federal debt was 120% of GDP in the second quarter of this year.
Persons: , Kamala Harris, Donald Trump, Mark Hamrick, Kurt Reiman, Reiman, They're, aren't, Hamrick, There's, Biden Organizations: Service, The New York Times, Siena College, Pew Research, Associated Press, NORC, for Public Affairs Research, University of Michigan's, Consumers, UBS Global Wealth Management, Federal Reserve, MarketWatch Locations: America, Wells Fargo
The trajectory of mortgage rates may help determine what happens to down payments. Borrowing costs, savings rates sway down paymentsAny analysis of down payments that doesn't mention mortgage rates would be incomplete. The 30-year fixed mortgage rate hit a two-decade high of 7.8% last October and has steadily fallen for most of the last 12 months. AdvertisementBut there's a less rosy explanation for lower down payments: buyers can't afford to pay more. The personal savings rate in the US was 4.8% in August, according to Realtor.com, which was up from the inflation-stretched low of 2% in June 2022.
Persons: , Hannah Jones, Buyers, Jones Organizations: Service, homebuyers, Federal Locations: Texas, Florida, Montana, Washington
Walmart stock has soared 58% this year to record highs, making its founding family richer than ever. Retail legend Sam Walton's three surviving children are each worth more than $100 billion. Walmart and the Waltons have benefited from a signature strategy and cost pressures on consumers. The stock surge has added more than $32 billion to the fortunes of each of founder Sam Walton's three surviving children — Jim, Rob, and Alice. But it's true the vast majority of the family fortune remains in the hands of Sam Walton's children.
Persons: Sam Walton's, , they're, Jim, Rob, Alice, Elon Musk, David King, who've, King, Art Weinstein, Florida who's, Weinstein, Sam Walton shrewdly, . King, Jeff Bezos, Mark Zuckerberg, Sam Walton, John T, Lukas Walton, it's Organizations: Walmart, Waltons, Service, Bloomberg, Elon, Sam's, Management, Florida State University, Logistics, Procter, Nova Southeastern University, Tech, Tesla, SpaceX, Amazon Locations: Florida
Clarkston, Georgia CNN —Vice President Kamala Harris and former President Barack Obama used their first joint campaign appearance, on Thursday night in this Atlanta suburb, to issue parallel warnings about the dangers facing the country if Donald Trump is elected again to lead it. Battleground Georgia is the latest stop in a late-campaign sprint by Obama, who has leveled at Trump increasingly passionate attacks and rounds of mocking. After Obama’s speech, Harris came onstage, where they embraced before the vice president delivered a nearly identical message. “What I can’t understand is why anyone would think that Donald Trump will shake things up in a way that is good for you. On Saturday, Harris is also set to appear with former first lady Michelle Obama in Michigan.
Persons: Kamala Harris, Barack Obama, Donald Trump, Obama, Harris, , ” Harris, wouldn’t, ” Obama, John Kelly, , Trump, “ It’s, stewing, That’s, MAGA, , , Kelly, Bruce Springsteen, ” Springsteen, Michelle Obama, CNN’s Elise Hammond Organizations: Georgia CNN —, Trump, United, New York Times, CNN, Obama’s, Democratic Locations: Clarkston, Georgia, Atlanta, United States, America, Iowa, Michigan
Closing the Deal with the Property Brothers
  + stars: | 2024-10-24 | by ( Diana Olick | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailClosing the Deal with the Property BrothersOver the past five years, the real estate market has changed drastically. Now, a lack of inventory combined with high home prices has created a tough environment for those looking to move. "Property Brothers" Drew and Jonathan Scott talk about what trends they're seeing in the housing market, issues surrounding home affordability and their latest venture to help combat some of these housing issues.
Persons: Drew, Jonathan Scott
Ashley Brundage is one of two out transgender candidates running for a seat in the Florida House of Representatives. NBC News spoke with seven transgender candidates who are running for seats in state legislatures nationwide about what they hope to accomplish if they are elected. Courtesy Lisa Middleton CampaignA steady riseAt least 18 out trans candidates are running for seats in state legislatures this election cycle, according to the LGBTQ Victory Fund, a super PAC focused on electing LGBTQ candidates. They are running against a national political backdrop in which trans people have come to play an outsized role. Trans candidates’ presence on ballots has only continued to rise since 2017, when Virginia’s Danica Roem became the first out trans person elected to a state legislature.
Persons: Ashley Brundage, Ron DeSantis, Brundage, DeSantis, she’d, DeSantis —, , ” Brundage, , Lisa Middleton, Donald Trump, Gabriele Magni, ” Trump, Magni, there’s, Virginia’s Danica Roem, hasn’t, Sarah McBride, Sean Meloy, McBride, Nathan Bruemmer, Middleton, it’s, , Kim Coco Iwamoto, Lorna Woo, Veronica Pejril, Pejril, Wick Thomas, ” Thomas, Transphobia, , ” Iwamoto, Thomas, they’ve, Babe Pejril, It’s, ” Pejril Organizations: Republican, NBC, Democratic, City Council, Victory Fund, Pew Research, Loyola Marymount University, LGBTQ Victory Institute, Delaware Senate, Democrat, Florida Legislature, Florida Department of Agriculture, Consumer Services, Indiana Senate, Missouri, NBC News, Gun Safety Locations: Florida, California, Palm Springs, Calif, Los Angeles, Delaware, Tampa, Hawaii, Indiana, Greencastle, Council
But the Trump campaign did not present any new evidence that rules were broken. Labour, and the party’s Prime Minister Keir Starmer, quickly denied that the party funded the trips, insisting the campaigners traveled in a personal capacity at their own expense. But the Trump campaign elevated the dispute in heightened language on Wednesday. Trump has frequently attempted to deflect allegations that he has benefited from foreign electoral interference from countries including Russia. Starmer’s center-left Labour Party swept to power in Britain in a July general election, and has long held an informal but friendly relationship with the Democratic Party.
Persons: London CNN — Donald Trump’s, Kamala Harris ’, Washington’s, Harris, Trump, Keir Starmer, Starmer, , they’re, Susie Wiles, , Kamala’s, ” Trump, Sofia Patel, Walz, Liz Truss, Joe Biden, ” Joe Biden, ” Starmer Organizations: London CNN, Federal, Commission, UK’s Labour Party, Labour Party, Labour, party’s, FEC, Trump, Labour Party staff, CNN, Democratic National Convention, DNC, Labour Party –, Trump . Former British, Democratic Party, United Nations General Assembly Locations: North Carolina , Nevada , Pennsylvania, Virginia, North Carolina, , Russia, Starmer’s, Britain, New York
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