DIRS.INFO The most relevant business & tech news

☆ Here's how bad housing affordability is now
▼ + stars: | 2024-06-25 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Home prices set another record in April, even as mortgage rates rose and the supply of homes for sale increased. Usually, under those circumstances, prices would weaken, but today's housing market is unlike any other in recent history. The housing cost burden has hit a record, according to a new report from Harvard's Joint Center for Housing Studies. Housing supply was already low before the Covid pandemic hit, because homebuilders had yet to recover from the 2008 financial crisis. Then there was a pandemic-induced run on housing, causing supply to drop to record lows for several years.

Persons: Brian Luke, Dow, HJCH, homebuilders, Homebuilders couldn't, Orphe Divounguy Organizations: Mortgage News, Dow Jones, Harvard's, for Housing Studies

☆ Paris Olympics 2024: Inside the landmark Olympic Village
▼ + stars: | 2024-06-25 | by ( Joshua Berlinger | ) edition.cnn.com time to read: +10 min

Paris CNN —When Paris last hosted the Summer Olympics 100 years ago, organizers were so keen to bring athletes under the same roof that they built the first-ever Olympic Village. Athletes sitting in front of a cabin in the Olympic Village at the 1924 Summer Olympics in Paris, France. The site for the Olympic Village was chosen in the hopes it would revitalize some of the city’s historically impoverished northern suburbs. A stool made from recyclable cardboard on display in the athletes' accommodation in the Olympic Village in Saint Denis, France. Nathan Laine/Bloomberg/Getty ImagesA cardboard bed inside an athletes' room at the Olympic Village in Saint Denis, France.

Persons: ”, Georgina Grenon, Denis, Saint, ‘, Nathan Laine, Grenon, Joshua Berlinger, ” Grenon, Jerome Giacomoni, Giacomoni, ” Sebastian Coe, Laurent Michaud, Paris Mayor Anne Hidalgo, “, ” Hidalgo, Vandoorne, Derek Van Dam Organizations: Paris CNN —, Paris, Topical, Hulton, Olympic, Organizers, Games, BBC, Bloomberg, Getty, CNN, World, Paralympic, International Energy Agency, Reuters, Paris Mayor Locations: City, Paris, France, Saint, Ile, London, Seine, Tokyo, Saint Denis, Europe

☆ Israel may soon draft ultra-Orthodox Jews. What does it mean for the war and Netanyahu?
▼ + stars: | 2024-06-25 | by ( Mick Krever | ) edition.cnn.com time to read: +8 min

CNN —The Israeli Supreme Court issued a ruling on Tuesday ordering the government to draft ultra-Orthodox Jews into the military. Since Israel’s founding, ultra-Orthodox Jews have been exempt from mandatory military service. Some do, but far fewer than most Israeli Jews. Technically, the military service exemption applied to young men who were actively studying at a yeshiva. In essence, the court said that the ultra-Orthodox could not be treated differently from other Israeli Jews.

Persons: –, “, Staff Herzi Halevi, ” Gilad Malach, ”, General Gil Limon, Netanyahu Organizations: CNN, Israel Democracy Institute, Shas, Israel Defense Forces ’, Staff, IDF, United, Likud Locations: Israel, Gaza, Lebanon

☆ 21 million Miniverse toy sets recalled due to danger of skin burn, eye and respiratory irritation
▼ + stars: | 2024-06-25 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Millions of Miniverse toy sets made by toymaker MGA Entertainment have been recalled because they pose a serious risk of skin burn, eye and respiratory irritation when touched, inhaled or ingested, the US Consumer Product Safety Commission said Tuesday. The recall involves the “Make it Mini” sets which contain resins that, when liquid, can cause those injuries and irritations to young children and adults alike. The CPSC also found that the resins contain chemical compounds called “acrylates” in amounts that are prohibited in children’s products. The CPSC said MGA Entertainment has received 26 reports of incidents with the toy sets from children and adults, including reports of skin burns and irritation, and respiratory irritation, with one report that it triggered a case of asthma in the user. 21 million Miniverse toy sets are being recalled due to danger of skin burn, eye and respiratory irritation.

Persons: irritations, Multipack Organizations: New, New York CNN, toymaker MGA Entertainment, US Consumer Product Safety, MGA Entertainment, Consumer Product Safety, UPC, Target, Walmart, ALDI, Hobby, MGA Locations: New York, Canada

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

Container ships are berthed at PSA's Pasir Panjang Terminal in Singapore July 15, 2019. Global port congestion has reached an 18-month high, with 60% of ships waiting at anchor located in Asia, maritime data firm Linerlytica said this month. SEVERE CONGESTIONSingapore, the world's second-largest container port, has seen particularly severe congestion in recent weeks. "The peak season, which traditionally starts in June, was advanced by a full month, causing ocean freight rates to soar." Container freight prices from Asia to the U.S. and Europe have tripled since early 2024.

Persons: Edgar Su, Linerlytica, Yemen's, Jayendu Krishna, Drewry, PortCast, Niki Frank, Dimerco, Jonathan Gold, Judah Levine, Jared Bernstein, Gene Seroka, Peter Sand, Jeslyn Lerh, Lisa Baertlein, Lisa Barrington, Miyoung Kim, Kim Coghill Organizations: REUTERS, Retailers, Ships, Drewry Maritime Advisors, Singapore, Singapore's, Port Authority, Drewry, Keppel, Tuas, Maersk, DHL Global, Asia, Descartes, National Retail Federation, Container, U.S ., of Economic Advisers, U.S, DHL, Thomson Locations: Pasir Panjang, Singapore, SEOUL, SINGAPORE, Asia, Africa, Malaysia's Port Klang, Tanjung Pelepas, Shanghai, Qingdao, China, South Korea, U.S, Europe, U.S . East Coast, U.S . West, of Los Angeles, Los Angeles, Seoul

To help you browse the best ones going on now, I've rounded up the best 4th of July sales below. Appliances including air conditioners and outdoor fire pits are down to excellent prices for the 4th of July. In time for the warming weather, I'm seeing some great price drops on air conditioner picks from our guides to the best portable air conditioners and the best air conditioner units. EcoFlow Wave 2 Portable Air Conditioner $1,199.00 $2,237.00 Save 46% The EcoFlow Wave 2 is the best battery-powered portable air conditioner we've tested. RumplThe best 4th of July outdoor and camping dealsSeveral stores are welcoming the warm weather and end of the school year by dropping prices on outdoor essentials, from accessories to full-size tents.

Persons: it's, We'll, BioLite, TCL, Rumpl, Kit Organizations: Business, Ikea's, Steam, LG, GE, Amazon Prime, Energy, Independence, Amazon, REI Locations: REI Outlet

☆ Ford steals market share, plus bank stress tests and Pool Corp's ripple effect
▼ + stars: | 2024-06-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

After three sessions of heavy rotation out of tech and AI winners and into other areas of the market, the market has shifted back to tech and momentum leaders. So when cracks are forming in other areas of the market, investors quickly return to where the growth is the strongest: tech. Stress tests: With the annual bank stress test results due out Wednesday after the bell, Jefferies took a look at how bank stocks have fared since 2021 immediately following the release. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan.

Persons: Jim Cramer, John Rainey, Cramer, Ford, Jefferies, Wells Fargo, General Mills, — Morgan Chittum, Jim Cramer's, Jim, Bill Pugliano Organizations: CNBC, Corp, Supply, Pool Corp, Walmart, Union Pacific, Micron, Nvidia, Federal Reserve, Jefferies, FedEx, United States Postal Service, Jim Cramer's Charitable, Ford, Ford Dearborn Plant, Getty Locations: London, Dearborn , Michigan

☆ College dropouts raise $120 million to take on Nvidia's AI chips
▼ + stars: | 2024-06-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

A 2-year-old startup founded by Harvard dropouts has just raised $120 million in venture funding to try and build a competitive chip and take on Nvidia in artificial intelligence. Co-founder and CEO Gavin Uberti said that as AI develops, most of the technology's power-hungry computing requirements will be filled by customized, hard-wired chips called ASICs. "We're making the biggest bet in AI," Uberti said in an interview. Other chip startups taking on Nvidia include Cerebras Systems, which is building a physically larger AI chip, and Tenstorrent, which is using a trendy technology called RISC-V to build AI chips. Venture capitalists invested $6 billion in AI semiconductor companies in 2023, up slightly from $5.7 billion in 2022, according to data from PitchBook.

Persons: Gavin Uberti, Uberti, we'll, Peter Thiel, Stanley Druckenmiller, Kyle Vogt, we've, Robert Wachen Organizations: Nvidia, Harvard, Apple, Venture Partners, Cerebras Systems, Semiconductors, Taiwan Semiconductor Manufacturing Co, Venture Locations: Cupertino , California, PitchBook

☆ Nvidia slides 13% in three days after briefly becoming most valuable company
▼ + stars: | 2024-06-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Since briefly becoming the world's most valuable company last week, Nvidia has dropped for three consecutive trading days and is now down 13% from its peak. Nvidia's decline brought with it a slide in chipmakers and other tech companies that have been tied to the artificial intelligence boom. Super Micro Computer , which sells servers packed with Nvidia's AI chips, slid 8.7 percent, and Dell , which competes in that market, fell 5.2%. Last week, it topped Apple and Microsoft as the most valuable U.S. company with a market capitalization over $3 trillion before giving up some of those gains. Later this year, Nvidia will start shipping its next-generation AI chips, called Blackwell, that some analysts say could kick off another cycle with significant growth for the chipmaker and its partners.

Persons: it's, Stephanie Link, Blackwell, Ray Wang Organizations: Nvidia, Micro Computer, Dell, Qualcomm, Broadcom, Apple, Microsoft, CNBC, Google, Oracle, Meta, Constellation Research Locations: U.S

☆ He's sworn by the same résumé format for the past 9 years. In 2022, it landed him a $350,000 job at Google — check it out.
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

In 2018, he joined Visa as a data platform product manager. Over the next five years, Lin worked at PayPal and then Google, where he is a senior product manager. Related storiesThis is the résumé that landed Lin his roles at Meta, Visa, and PayPal, and, in 2022, a $350,000 annual pay package at Google. "Tier one is about 20 to 30 different positions that I really, really want," Lin said. Lin is now a senior product manager at Google's San Francisco office.

Persons: —, Yun, Yu Lin, Lin, Yung, I'm, it's, résumé Organizations: Service, Yahoo, Business, University of Southern, Meta, Visa, PayPal, Google, Surplus Technology, Google's San Locations: Taiwan, University of Southern California, Google's San Francisco

☆ This résumé got a product manager a $350,000 job at Google and his past roles at Meta, Visa, and PayPal
▼ + stars: | 2024-06-24 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

He shifted to work as a software engineer at Yahoo in 2011, where he first saw a product manager in action and was inspired to take up the role down the line. In 2018, he joined Visa as a data platform product manager. Over the next five years, Lin worked at PayPal and then Google, where he is a senior product manager. Related storiesThis is the résumé that landed Lin his roles at Meta, Visa, and PayPal, and, in 2022, a $350,000 annual pay package at Google. Lin is now a senior product manager at Google's San Francisco office.

☆ Bank of America says Broadcom's sales growth to double because of AI, raises price target even higher
▼ + stars: | 2024-06-24 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Bank of America sees more room for Broadcom to run, with its sales growth likely to double as a result of the artificial intelligence craze. Analyst Vivek Arya hiked his price target by $150 to $2,150 while reiterating his buy rating and top-pick designation. Arya's new target implies that shares of the semiconductor stock can rally around 30% from last week's closing level. A key part of Arya's call is sales growth approximately doubling to a compound annual rate of around 13% between the 2024 and 2026 fiscal years. This will be propelled by a 24% compound annual growth rate in the AI-connected silicon and VMWare businesses, he said.

Persons: Vivek Arya, Arya, that's Organizations: of America, Broadcom, VMWare, iShares Semiconductor, Nasdaq

San Miguel Gate, Tohono O’odham Nation CNN —The thermometer hit 111 Fahrenheit as we rolled up to a battered tent deep in the Tohono O’odham Nation reservation in Arizona. Chairman Verlon Jose, leader of the Tohono O’odham Nation, considered addressing them, and then turned away. CNNPeople wait to be taken in by Border Patrol after crossing the US-Mexico border near the San Miguel gate on the Tohono O'odham reservation, Arizona in June 2024. Evelio Contreras/CNNYou could drive for miles on the sprawling Tohono O’odham reservation without encountering anyone beside the free-ranging cattle. Some Tohono O’odham Nation members put out water or food for the migrants, others are afraid to.

Persons: Verlon Jose, ”, Evelio Contreras, Jose, ” Jose, Katie Hobbs, we’re, Annette Mattia, “ We’re, you’ll, ” Annette Mattia, “, Ariel Mattia, Raymond Mattia's, who’ve, CNN –, ” Norma, You’ve, ain’t, Mike Wilson, ” Wilson, Raymond Mattia, ” “, Mattia, Biden, That’s, Trump, CNN’s Rachel Clarke Organizations: CNN, Patrol, Border Patrol, US Border Patrol, US Customs, Border Protection, CNN CNN, Customs and Border Protection, CBP, San, CNN Migrants, CNN Border Patrol, CNN Security, US, Plymouth Rock Locations: Miguel Gate, Arizona, Pima County , Arizona, Mexico’s, Cortez, Mexico, United States, San Miguel, Arizona’s Tucson, Menagers, , Arizona, Pima County, America, Tucson, Arizona's, illegals, American, Atlanta

☆ 34-year-old making $400,000 at TikTok: Being let go from Meta in 2022 was 'perfect timing'
▼ + stars: | 2024-06-24 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +13 min

TubeMogul was competing for an ad tech partnership with Netflix, so Lee learned about the company's own technology and culture. Lee started working at Netflix on its digital marketing programmatic buying team in 2014, earning a salary of $110,000. "It was actually perfect timing that I got laid off," Lee says of being part of Meta's November 2022 job cuts. While she wants to continue increasing her salary, money alone isn't enough. On her TikTok, YouTube and Instagram accounts, Lee shares career and lifestyle advice based on her experiences.

Persons: Sora Lee, Lee, Mickey Todiwala, she'll, hustles, Lee didn't, she's, you've, TubeMogul, Andrew Evers, Lisa Setyon, haven't, Jackson, Tesla, doesn't, I'm, Lee isn't Organizations: CNBC, University of California, TikTok, ByteDance, Netflix, Meta, Facebook, Child, Savings, Porsche, YouTube Locations: Berkeley, South Korea, San Mateo , California, TikTok, RSUs, TubeMogul, New York, Austin , Texas, Los Angeles, Meta's, Lake Tahoe, U.S

☆ The Costs of Caring for Pets
▼ + stars: | 2024-06-23 | by ( Katie Thomas | ) www.nytimes.com time to read: +1 min

Pets these days are just like us. Their health care is becoming more human, too — for better and for worse. Decades ago, animal care was relatively rudimentary. Veterinarians usually owned their own clinics, and the options to treat a sick or injured pet were limited. For pets and the people who love them, the advances are welcome.

☆ High valuations of Apple and Microsoft get a pass. Nvidia does not but should
▼ + stars: | 2024-06-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +13 min

Sure enough, the next day began a historic ascent of Apple stock, an in-your-face rally that many thought made no sense. There's a coalescence of two themes, high speed, accelerated computing and increasingly intelligent AI, and neither works without Nvidia chips. I know that it seems impossible to ponder Nvidia's stock going any higher or passing Apple and Microsoft and staying ahead of it. Ask yourself, does any company match Jensen and Nvidia right now? I say let others be baffled over the Apple versus Microsoft versus Nvidia conundrum.

Persons: WWDC, Tim Cook, Tim, Claude, hasn't, Moore, Elon Musk, Nvidia's, Jensen Huang, Jensen, Ben Franklin, Franklin, Da Vinci, — Jensen, Steve Jobs, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Developers, Microsoft, Club, Dell, HP Inc, PC, Micron, Nvidia, Computers, Intel, AMD, Pentium, Taiwan Semiconductor Manufacturing Co, Franklin Institute, Oracle, Google, GTC Conference, Cisco, Jim Cramer's Charitable, CNBC Locations: Philadelphia, Rome, Jensen

☆ America’s housing crisis continues to worsen
▼ + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.

Persons: ” Lael Brainard, ”, “, Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, “, White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China

☆ A millennial who raised $24 million to invest in properties using an 80-page pitch deck shares the key to his success beyond the deck itself — and how to get started in real estate
▼ + stars: | 2024-06-22 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

At the time, he was bringing in between $25,000 and $30,000 a month from his personal real estate portfolio, he said. "I deployed that $7 million and bought about $25 million worth of property within 10 months," he told BI. His second fund closed at just under $24 million. "Put 5% down," he advised (many new investors get started with FHA loans that allow you to put down as little as 3.5%). If you maintain your current lifestyle, you can use those savings to buy a second property.

Persons: James Berkley, syndicator, Berkley, — Organizations: Service, Business Locations: Boston, New York City, Worcester , Massachusetts, Worcester, Berkeley

☆ Nvidia remains a little-known brand despite briefly passing Apple, Microsoft in market cap
▼ + stars: | 2024-06-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

The other is Nvidia , which for a time this week, surpassed Microsoft to become the largest company in the world by market cap. Nvidia has over 80% of the market for chips used to train and deploy AI software like ChatGPT. 100 on Interbrand's list for 2023 is Japanese camera maker Canon, with Dutch brewer Heineken at No. The risk for Nvidia, Silverman added, is that its "weak brand strength will limit how valuable it will be, despite its market cap heights." Gamers love itHowever, a competing survey shows that Nvidia's brand value is catching up to that of its peers.

Persons: Jensen Huang, Ann Wang, —, Greg Silverman, Interbrand's, Silverman, Interbrand, Kantar BrandZ, Marc Glovsky, Philip Fong Organizations: Reuters Apple, Microsoft, Google, Nvidia, Disney, Netflix, Heineken, Apple, Windows, Samsung, Toyota, Mercedes, Benz, BMW, Nike, Intel, Hewlett Packard Enterprise, CNBC, Nintendo, AFP, Getty, chipmaker, Dell, Vanda Research Locations: Taipei, Taiwan, Korean

☆ Insider Today: Making junk food healthier
▼ + stars: | 2024-06-22 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Kylie Kelce and her husband, y'know, the former Philadelphia Eagles power player Jason Kelce, are outnumbered at home. Now, he's on a mission to develop new recipes for ultra-processed meals in the hopes they'll be healthier. Combine two steps with these 10 face moisturizers with SPF — and skip burned lips with a good SPF lip balm. More of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor in chief of life, in New York.

Persons: —, Kylie Kelce, y'know, Jason Kelce, Ronnie Chua, Skip, Noah K, Murray, Michael Conroy, Jose A, Bacete, Tyler Le, Caitlin Clark, Clark, she's, Eminem, Darren Robb, Jenny Chang, Rodriguez, Chelsea Jia Feng, Kevin Hall, Hall wasn't, they're, Abanti Chowdhury, Taylor Swift, Scooter Braun, Max docuseries, Swift, Braun, Rebecca Zisser, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Grace Lett, Amanda Yen Organizations: Service, Philadelphia Eagles, Business, Mount, Getty, BBC Locations: Old Montreal, Quebec, Canada, Venice, Mount Fuji, Halkidiki, Thessaloniki, Paris, Montreal, Idaho, Maryland, Iowa, BBC America, New York, New York City, Chicago

☆ ‘They saved their whole lives for this’: American woman’s heartbreak as parents die on Hajj
▼ + stars: | 2024-06-22 | by ( Pauline Lockwood | Maija-Liisa Ehlinger | ) edition.cnn.com time to read: +6 min

CNN —Saida Wurie said it was her parents’ lifelong dream to participate in Hajj, the religious pilgrimage that brings Muslims from around the world to Saudi Arabia each year. Speaking to CNN’s Whitfield on Saturday, Wurie said she had been in close contact with her parents while they were in Saudi Arabia via a family group chat. As of Saturday, diplomats have not committed to meeting them in person in Saudi Arabia, she said. Mecca, the holy city that is central for Hajj pilgrims, saw temperatures soar to a record-setting 125 degrees Fahrenheit on Monday. Fadel Senna/AFP/Getty ImagesBut CNN has spoken to other Hajj pilgrims who said the preparations weren’t enough, with one describing seeing fellow worshipers lose consciousness and walking past bodies covered in white cloths.

Persons: Saida Wurie, They’d, “, ”, CNN’s Fredricka Whitfield, Wurie, Isatu Tejan, Alieu Dausy, Prince George’s County, CNN’s Whitfield, Arafat, Mount Arafat, Whitfield, Fadel Senna, Mina . Organizations: CNN, Kaiser Permanente, ”, Saudi Interior Ministry, US Embassy, General’s Office, US State Department, Saudi, Ahram Locations: Hajj, Saudi Arabia, Maryland, Bowie , Maryland, Kaiser, Prince George’s, Mina, Jeddah, Saudi, Mecca, AFP, Egypt, Saudi Arabian

"[It's] the first car-free neighborhood built from scratch in the U.S.," Ryan Johnson, CEO of Culdesac tells CNBC Make It. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala. Mickey Todiwala.

Persons: Jada Stratman, Ryan Johnson, They're, Mickey Todiwala, I've, I'm, Stratman, who's Organizations: Culdesac, CNBC Locations: U.S, Tempe , Arizona, Culdesac

☆ Home prices hit record high in May as sales stall
▼ + stars: | 2024-06-21 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

watch nowSales of previously owned homes are sitting at a 30-year low and didn't move much in May as prices hit a new record and mortgage rates remain high. The sluggish sales pace came as rates took a big leap in April. David Ryder | Bloomberg | Getty ImagesSales were unchanged month to month in all regions except the South, where they fell 1.6%. At the current sales pace, there is now a 3.7-month supply. "Eventually, more inventory will help boost home sales and tame home price gains in the upcoming months.

Persons: Lawrence Yun, David Ryder, Yun Organizations: National Association of Realtors, Mortgage News, NAR, Bloomberg, Getty Locations: Issaquah Highlands, Issaquah , Washington, US

☆ US home prices just hit a record high. Americans are still buying
▼ + stars: | 2024-06-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

The situation could improve somewhat later this year, when the Federal Reserve is expected to begin paring back interest rates from a 23-year high, which should bring down mortgage rates. But Fed officials have penciled in just one rate cut for this year, and the days of ultra-low interest rates are long gone. Economists don’t expect the average mortgage rate to fall below 6% in 2024. However, there have been some steps in the right direction: Total housing inventory has steadily increased throughout this year, according to NAR data. New home construction also contributes to housing supply, but high interest rates seem to have pumped the brakes on homebuilding.

Persons: ”, Lawrence Yun, “, don’t, That’s, NAR’s Yun Organizations: Washington CNN — Homes, National Association of Realtors, NAR, “, Federal Reserve, Fed, Housing Locations: America

Search resuls for: "Units"

25 mentions found