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☆ Rising rates are weighing on the housing market - and macro headwinds could keep the sector depressed in 2023.
▼ + stars: | 2022-12-22 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Don't shoot the messenger here, but today I'm breaking down the many troubles plaguing the housing market and homebuyers. The Fed's interest rate maneuvering and the housing market are connected, and mortgage rates often move in lockstep with the central bank's benchmark rate. Brian Jacobsen, a senior strategist for Allspring Global Investments, pointed to a triumvirate of headwinds weighing on the housing sector: labor shortages, rising costs, and soaring mortgages. That means more rate hikes are effectively guaranteed, which raises the odds of a recession and can further squash housing demand. What's your forecast for the housing market next year?

☆ Watch CNBC's full interview with Taylor Morrison CEO Sheryl Palmer
▼ + stars: | 2022-12-20 | 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 EmailWatch CNBC's full interview with Taylor Morrison CEO Sheryl PalmerSheryl Palmer, Taylor Morrison CEO, joins 'Squawk on the Street' to discuss housing data projections for forward demand in 2023, the mortgage transparency available to consumers, and takeaways from homebuilder sentiment numbers.

☆ A housing recession has been underway for months, says Sheryl Palmer CEO Taylor Morrison
▼ + stars: | 2022-12-20 | 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 EmailA housing recession has been underway for months, says Sheryl Palmer CEO Taylor MorrisonSheryl Palmer, Taylor Morrison CEO, joins 'Squawk on the Street' to discuss housing data projections for forward demand in 2023, the mortgage transparency available to consumers, and takeaways from homebuilder sentiment numbers.

☆ The collapse of FTX has left many crypto investors without access to their cash. Meet one student who got $14,000 stuck on Sam Bankman-Fried's exchange.
▼ + stars: | 2022-12-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

In light of the hubbub surrounding FTX and Sam Bankman-Fried, this morning I'm thinking about a quote by novelist G. Michael Hopf:"Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times." And that's the sense I got from speaking to one 26-year-old investor who lost a sizable chunk of his portfolio in FTX. I just caught up with FTX user Daniil Pemberton, who lost access to roughly $14,000 in funds when the crypto exchange imploded last month. Now, FTX users like Pemberton have been left with a hole in their pockets and faltering faith in the digital asset sector. Do you have a story to share about losing access to funds in FTX, or on how you're changing your investment strategy?

☆ Homebuilder sentiment drops for the 12th straight month, but a bottom may be near
▼ + stars: | 2022-12-19 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Homebuilders were less confident about their business in December, but they are starting to see potential green shoots. Builder sentiment in the single-family housing market dropped two points to 31 in December on the National Association of Home Builders/Wells Fargo Housing Market Index. This is the 12th straight month of declines and the lowest reading since mid 2012, with the exception of a very brief drop at the start of the Covid pandemic. Regionally, sentiment was strongest in the Northeast and weakest in the West, where prices are highest. The NAHB continues to blame high mortgage rates, which despite the recent drop are still about twice what they were a year ago.

☆ Zoning is a bigger headwind to housing than inventory, says Pulte Capital CEO Bill Pulte
▼ + stars: | 2022-12-15 | 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 EmailZoning is a bigger headwind to housing than inventory, says Pulte Capital CEO Bill PultePulte Capital CEO Bill Pulte joins 'Closing Bell: Overtime' to discuss the housing industry as homebuilder stocks hold up.

☆ Stocks making the biggest moves midday: Netflix, Snap, Warner Bros. Discovery, AT&T, Novavax and more
▼ + stars: | 2022-12-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Netflix — Netflix tumbled more than 9% following a report from Digiday that said the streaming stock's early-stage advertising business is missing viewership targets. Verizon , AT&T — The communication technology stock added 1% after Morgan Stanely upgraded it to overweight from equal weight, saying its shares were attractive compared with historical levels. AT&T shares fell more than 2% following a separate downgrade from Morgan Stanley that cited the stock's recent outperformance. Madison Square Garden Entertainment — Shares rose more than 2% after Morgan Stanley upgraded the stock to equal weight from underweight. Lockheed Martin — Shares dropped 1.5% after Morgan Stanley downgraded the stock from overweight to equal weight, saying its outperformance should somewhat cool in 2023.

☆ Lennar forecasts slowdown in orders for new homes, shares fall
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

Dec 14 (Reuters) - Homebuilder Lennar Corp (LEN.N) on Wednesday forecast a slowdown in new orders for the first quarter as high mortgage rates make properties unaffordable for some buyers. Lennar expects new orders in the current quarter to be between 12,000 and 13,500 homes, compared with new orders for 13,200 homes in the fourth quarter. However, the U.S. Federal Reserve's aggressive monetary policy tightening to curb decades-high inflation has made borrowing more difficult for customers as mortgage rates have more than doubled since the beginning of the year. Sales of previously owned homes fell for an eighth straight month in September, while homebuilding dropped, signaling that higher mortgage rates are choking the housing market. Net income attributable to Lennar rose to $1.32 billion, or $4.55 per share, in the fourth quarter, from $1.19 billion, or $3.91 per share, a year earlier.

☆ Homebuilder Lennar's quarterly profit rises 11%
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

Dec 14 (Reuters) - U.S. homebuilder Lennar Corp (LEN.N) reported an 11% rise in fourth-quarter profit on Wednesday as high property prices offset the impact from a shrinking pool of buyers due to a spike in mortgage rates. However, the industry now faces a cooling homebuilding market as the U.S. Federal Reserve's aggressive monetary policy tightening to curb decades-high inflation has made borrowing more difficult. Net income attributable to Lennar rose to $1.32 billion, or $4.55 per share, in the reported quarter, from $1.19 billion, or $3.91 per share, a year earlier. Revenue rose about 21% to $10.17 billion. Reporting by Priyamvada C in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Barclays upgrades Lennar, says homebuilder can rally more than 25% as housing market troughs in 2023
▼ + stars: | 2022-12-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Homebuilding stock Lennar is one of the best-positioned names to capitalize on a housing market trough next year, according to Barclays. Analyst Matthew Bouley upgraded the homebuilder to overweight from equal weight, saying in a note to clients Wednesday that Lennar's size and past history of solid execution should help it navigate this environment. Barclays' upped its price target on Lennar to $116 from $85 a share, suggesting the stock's poised to rally 28% from Tuesday's close. Across the board, Bouley views many housing stocks as better situated for a solid 2023 and poised to benefit from the possibility of interest rates peaking. Bouley also upgraded shares of PulteGroup to an overweight rating, saying that the stock offers a "best-in-class" return on equity that isn't reflected in its valuation.

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Amazon, Exxon Mobil, Nike, Best Buy & more
▼ + stars: | 2022-12-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley names Exxon Mobil a top 2023 pick Morgan Stanley said Exxon Mobil is one of the best-positioned stocks heading into 2023. Morgan Stanley reiterates Apple as overweight Morgan Stanley said concerns about App Store competition are overdone. Bank of America downgrades Best Buy to underperform from neutral Bank of America said the environment is too challenging right now for Best Buy. Bank of America reiterates Nike as neutral Bank of America said it's cautious going into Nike earnings next week. Bank of America reiterates Alphabet as buy Bank of America said it's sticking with its buy rating on Alphabet but that investors need to hear more about the Google parent's cost-cutting initiatives.

☆ Homebuilder bullfight: Lennar vs. Meritage Homes
▼ + stars: | 2022-12-13 | 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 EmailHomebuilder bullfight: Lennar vs. Meritage HomesKenneth Zener, equity research analyst with Keybanc Capital Markets, and Stephen Kim, homebuilder sector analyst with Evercore ISI, join 'Power Lunch' to discuss the relative merits of Lennar and Meritage Homes.

☆ Mortgage rates drop after CPI report, but the housing market is far from out of the woods
▼ + stars: | 2022-12-13 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

The report sent investors rushing into U.S. Treasury bonds, causing yields to drop. Mortgage rates follow loosely the yield on the 10-year Treasury. But rates then fell sharply in November, after the CPI report for October indicated that inflation was cooling. Some suggested, albeit cautiously, that the drop in rates might be bringing buyers back to the market. Yearly was referring to a very brief rate drop in August.

☆ Homebuyers are losing out on homes and big deposits as affordability escapes them
▼ + stars: | 2022-12-12 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Many people who put thousands down on new homes canceled their contracts and lost money, per NPR. They told NPR they didn't have a choice because the payments had grown since rates rose. That's because home builders are feeling the heat too — Paul Schwinghammer, president of the Indiana Builders Association, told NPR that many home builders can't afford to give back the cash. "The sales guy, he always tells us we're going to lose the deposit if we don't buy the house," Paulo Echeverry, one such person, told NPR. Today, with the average 30-year mortgage rate at 6.33%, according to Freddie Mac, the same home would be $1,475 per month, according to Insider's mortgage calculator, a 45% increase in monthly payments.

☆ One group of stocks is refusing to buckle even with a recession looming
▼ + stars: | 2022-12-07 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. Bank of America here plots what has historically happened in the year before and after the Fed's final rate hike. The best return came after the 1980 halt, and the worst in 1969 right ahead of a recession with still-high inflation (5-6% CPI). A longer-term look at the equal-weighted consumer discretionary vs. energy stocks shows some convergence here as the consumer has refused to buckle, car production is in catch-up mode and even homebuilder stocks are 25% off their lows, with energy in consolidation mode. Energy stocks faltering but still holding longer-term uptrends for now.

☆ Stocks making the biggest moves midday: Carvana, MongoDB, TripAdvisor, Toll Brothers and more
▼ + stars: | 2022-12-07 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

MongoDB — The database platform surged almost 22% following the company's quarterly results. State Street — Shares of the asset manager jumped more than 8% after the company announced a new buyback plan. Toll Brothers — Shares of the luxury homebuilder rose 7% after the company reported quarterly results. Chinese tech stocks — Shares of U.S. listed China stocks declined even as Beijing announced it will lift some Covid restrictions. Airlines — Airline stocks fell as a group during midday trading.

☆ We're going to see a much slower year ahead for the homebuilder stocks, says CFRA's Ken Leon
▼ + stars: | 2022-12-07 | 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 EmailWe're going to see a much slower year ahead for the homebuilder stocks, says CFRA's Ken LeonKen Leon, Director of Equity Research at CFRA, joins Worldwide Exchange to discuss earnings from Toll Brothers and the outlook for other homebuilder stocks.

☆ A fund manager who's outperformed 99% of his peers over the last 10 years shares 2 beaten-down homebuilder stocks he's betting on — and says the housing market is set to turn around next year with mor
▼ + stars: | 2022-12-06 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

The US housing market has dramatically slowed this year. This is because Smead sees a recession unfolding next year as his base case scenario, in which case mortgage rates would reverse. Yields on 10-year Treasury notes usually fall in a recession, as investors flock toward safehaven assets. "And you're more likely to get to 5.3% mortgage rates if you have a recession." Falling mortgage rates will raise affordability for prospective homebuyers, and will wake up demand that has been waiting on the sidelines for better buying conditions, he said.

☆ Stocks making the biggest moves after hours: MongoDB, Toll Brothers, Dave & Buster's and more
▼ + stars: | 2022-12-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

MongoDB — The database platform surged about 26% in extended trading following the company's quarterly results. Mongo posted better-than-expected revenue for the most recent quarter and issued upbeat fourth-quarter revenue guidance, according to Refinitiv. Dave & Buster's — Shares of the restaurant and video arcade operator dropped 5% even after it posted better-than-expected revenue and posted earnings that were in line with estimates, according to Refinitiv. Toll Brothers — Shares of the luxury homebuilder rose 1% after hours following the company's quarterly results. Toll Brothers posted home sales revenue that was better than Wall Street expectations, according to Refinitiv.

☆ Is the worst over for bitcoin and the rest of crypto?
▼ + stars: | 2022-12-04 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

This is not the first crypto winter, as long-term fans of bitcoin can attest. “It is very clear that we as an industry need to build better products,” said Hany Rashwan, CEO of 21.co, a crypto investment firm. That’s about triple where prices were during the depths of the crypto bear market in the early pandemic days of 2020. Others point out that the underlying blockchain technology behind bitcoin and crypto remains solid. Pride and Reynolds added that it’s erroneous to think that bitcoin can hold up well during stock market volatility.

☆ Powell's problem is he needs the economy to be lousy but it isn't, says Smead Capital's Bill Smead
▼ + stars: | 2022-11-30 | 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 EmailPowell's problem is he needs the economy to be lousy but it isn't, says Smead Capital's Bill SmeadBill Smead, Smead Capital Management CIO, joins 'Power Lunch' to discuss Powell's recent comments, his thoughts on the homebuilder sector in 2023 and more.

☆ One major homebuilder is resorting to Black Friday discounts to lure buyers back to the market
▼ + stars: | 2022-11-25 | by ( James Rodriguez | ) www.businessinsider.com time to read: +3 min

Lennar, the nation's second-largest homebuilder, advertised Black Friday deals on its website. Lennar, the nation's second-largest homebuilder, advertised "Black Friday Deals on select move-in ready homes" at the top of the home page of its website as of Wednesday. Faced with the prospect of paying hundreds of dollars more for a mortgage each month, buyers retreated from the market in droves. Horton, the nation's largest homebuilder, said it was scaling back its production and offering more incentives to buyers to keep deals going. Buyers have continued to pull out of the market amid persistent inflation and high home prices.

☆ U.S. housing faces longer descent to basement
▼ + stars: | 2022-11-22 | by ( Ben Winck | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 22 (Reuters Breakingviews) - The U.S. housing market is destined to keep sliding. The highest mortgage rates in 15 years have stifled demand, leading the pace of existing home sales to slow 31% since January. An influx of new supply should depress prices from pandemic-era highs, but affordability will be squeezed well into 2023. With existing owners locked into lower mortgage rates, they’re unlikely to put their homes up for sale, curbing supply. Housing starts for single-family homes decelerated to a seasonally adjusted annual rate of 855,000 units in October, the Census Bureau said on Nov. 18.

☆ Toll Brothers' stock is cheap relative to its homebuilding peers, JPMorgan says in upgrade
▼ + stars: | 2022-11-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Toll Brothers is trading at a sizeable discount to its peers and offers a favorable risk-reward outlook for investors looking to play the homebuilder sector, JPMorgan said Tuesday. Analyst Michael Rehaut upgraded the stock to overweight from neutral, noting it trades at a 0.95 current price-to-book ratio and estimates its 2023 multiple at 0.77. The analyst said that's well below average ratios of 1.31 and 1.14, respectively, for larger-cap peers. The upgrade puts Toll Brothers in line with JPMorgan's other overweight-rated homebuilding names. JPMorgan upped its price target on Toll Brothers to $58 from $47 a share, which implies that shares could gain 29% from Monday's close.

☆ Here are Tuesday's biggest analyst calls: Apple, Amazon, Costco, Alphabet, Nvidia, Coinbase & more
▼ + stars: | 2022-11-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Cowen downgrades Peloton to market perform from outperform Cowen said there's too much uncertainty around the stock. "We downgrade PTON to Market Perform on challenging post-pandemic trajectory and demand uncertainty amid turnaround effort." Cowen downgrades Lyft to market perform from outperform Cowen said it sees macro and insurance cost headwinds. Cowen downgrades Wayfair to market perform from outperform Cowen downgraded the stock due to macro headwinds. Morgan Stanley reiterates Alphabet as overweight Morgan Stanley said its survey checks show that "GOOGL's position at top of e-com funnel remains strong."

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