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While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed. Over the last six months, the median price for a new home is only about 4% higher than the median price of an existing house. Reducing the square footage of your home can help reduce construction costs as well as utility and maintenance costs down the line. Keep construction costs down: Major factors like lumber and labor costs significantly impact the cost of a new house. And depending on the kinds of materials you add to the house, builders are "adding up the tab," Veronica Fuentes, a wealth management advisor based in Washington, D.C., previously told CNBC.
Persons: Alistair Berg, Digitalvision, Nicole Bachaud, Dietz, Matthew Walsh, Walsh, homebuilders, Veronica Fuentes Organizations: Getty, Zillow Group, CNBC, U.S . Census, U.S . Department of Housing, Urban, Moody's, Washington , D.C Locations: U.S, Washington ,
BI spoke to a dozen millennials who have achieved or are on track to achieve financial independence. Brad Barrett, the host of the "ChooseFI" podcast, said "vanishingly few" people with the wherewithal to reach financial independence are retiring early. AdvertisementHe argued that achieving financial independence and hitting a specific number is "the simplest part." Advertisement"I defined myself by the pursuit of financial independence," Sabatier, the author of "Financial Freedom," said. Don't delay figuring out what you really want, why you're pursuing financial independence, and what you want to do after."
Persons: Jace Mattinson, Mattinson, Jace Mattison, Jace Mattison Mattinson, Motley, they're, Millennials, millennials, Scott Rieckens, Brad Barrett, you've, Bill Schaninger, Naina Dhingra, Schaninger, Mitch, , Brian Luebben, Grant Sabatier, Sabina Horrocks, She's, she'd, Michelle Schroeder, Gardner, Wes, I'm, Lauren, Steven Keys, Steven, you'll, We're Organizations: he'd, Business, FIRE, Facebook, McKinsey, FI, Academy, Marketing Locations: Austin, Minnesota
Wooden turbine towers could make wind power even greener
  + stars: | 2024-04-10 | by ( Arya Jyothi | ) edition.cnn.com   time to read: +6 min
Swedish company Modvion believes it has found a greener alternative — building turbine towers from wood. ModvionAccording to Otto Lundman, co-founder and CEO of Modvion, using wooden towers reduces the lifecycle emissions of a wind turbine by over 25%, and by 90% if you only compare the tower component of the turbine. He adds that if you take into account the carbon dioxide absorbed by trees when they grow, the wooden towers can be considered to store more carbon that they emit. In 2023 the company installed its first commercial two-megawatt unit, a 105-meter-high (345 feet) wooden turbine tower, called Wind of Change, outside Skara, Sweden, for electric utility company Varberg Energi. “But in wind power standards, wood is not really considered for the towers, it’s mostly steel and concrete.
Persons: Modvion, Otto Lundman, Lundman, David Olivegren, Wood, , Abbas Kazemi Amiri, Amiri, , Paul Wennerholm Organizations: CNN, Swedish Energy Agency, Wind Energy, Control, University of Strathclyde, Voodin Blades Locations: Sweden, Skara, University of Strathclyde , Glasgow
The researchers said the new method, described in a recent paper in the Nature Plants journal, could significantly curb the sale of Russian timber, which is prohibited in the European Union because of the war in Ukraine. But birch, oak, pine and other types of lumber from Russia are still finding European buyers amid surging demand. Last month, the novel approach was used to identify large shipments of illegal Russian lumber in Belgium. The new study looked at the chemical composition of 900 wood samples collected from 11 countries in Eastern Europe. The data was fed into a model powered by machine learning, which found patterns that could predict the geographic origin of the samples.
Locations: Sweden, Europe, Union, Ukraine, Russia, Belgium, Eastern Europe
Researchers used sonar to locate a long-lost shipwreck in Lake Michigan. The 135-foot ship sank in 1886 after colliding with another boat. Last year, the group announced the discoveries of a 190-foot cargo vessel that sank in Lake Huron amid blustery winds in 1894 and a 140-foot schooner that sank in Lake Michigan in 1881. The Hickox "plowed into the side of the Milwaukee," according to the shipwreck association, nearly capsizing the ship. Nearly two hours after the crash, the Milwaukee sank beneath the waters.
Persons: , Neel Zoss, Waters Organizations: Service, Maritime, Michigan Shipwreck Research Association, Milwaukee, Northern Transportation Company, Ohio Locations: Lake Michigan, Milwaukee, Michigan, Lake Huron, Great, Chicago, Muskegon
Home Depot on Thursday said it is acquiring SRS Distribution in an $18.25 billion deal, the latest and largest sign of its ambitions to drive sales by winning more business from contractors, roofers and other home professionals. The home improvement retailer expects the acquisition to close this fiscal year, which ends in late January. Home Depot already draws half of its business from pros, while the other half comes from do-it-yourself customers. It recently announced it will open four distribution centers that help support sales to pros. The acquisition comes after the home improvement retailer said last month that it expects slower sales trends to continue.
Persons: It's, Ted Decker, Leonard Green, Decker, he's, That's Organizations: Atlanta -, CNBC, Leonard Green & Partners, Berkshire Partners, HD Supply, Resources, Depot Locations: Atlanta, McKinney , Texas, U.S, Mexico, Canada
How to 3D-print a school in a war zone
  + stars: | 2024-03-25 | by ( Rebecca Cairns | ) edition.cnn.com   time to read: +11 min
Project Hive will provide the school with four extra classrooms to help it accommodate additional students displaced by the war, said Bonis. But he continues undeterred: “(This) is also a way of taking technology to give back hope.”A model of the 3D-printed school showing the four new classrooms. Where 3D printing is really great is when you have special geometries and shapes, because you’re totally free. According to Lange, there are cheaper, faster alternatives to 3D printing, such as prefabricated and modular buildings. Team4UAReconstructing communitiesTeam4UA is not the only organization to see the potential of 3D-printed construction in disaster and conflict zones.
Persons: Jean, Christophe Bonis, “ I’m, ” Bonis, Team4UA, Olga Gavura, , , DUS, Christian Lange, you’re, Hong Kong University Lange, Lange, Jack Oslan, Oslan, , Andriy Zakaliuk, Bonis, “ It’s Organizations: CNN, Team4UA, United Nations ’ International Organization for Migration, , Balbek, Ars Longa, Dubai Future Foundation, Hong Kong University, Robotic, 7CI Group, Russian, Diamond, Kyiv School of Economics, Lviv City Council’s Locations: Lviv, Ukraine, Europe, Russia, , Texas, Austin , Texas, Nacajuca, Mexico, Dubai, Malawi, Arizona, , Kherson, Kyiv
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
The largest employer in Seeley Lake, Montana, is closing in part due to costs and housing issues. An influx of people to smaller towns has driven up costs and fueled housing shortages in Montana. "Among other problems, labor shortages, lack of housing, unprecedented rising costs, plummeting lumber prices, and the cost of living in Western Montana have crippled Pyramid's ability to operate." "This is devastating news for the Seeley Lake community and all of Montana," Daines said. Communities across the West are feeling the pinch of rising costs in different ways.
Persons: , Seeley, Greg Gianforte, Steve Daines, Jon Tester, Daines, Cindy Riegel Organizations: Service, Company, Montana Gov, NBC, Wall Street Locations: Seeley Lake , Montana, Montana ., Seeley Lake, Western Montana, Montana, . Montana, Idaho, Montana hasn't, Sens, Steamboat Springs, Colorado, , Idaho, Teton County
Home Depot said Thursday that it will open four new distribution centers as it chases more sales from remodelers, contractors and other home professionals. Each facility averages approximately 500,000 square feet — about five times the size of the average Home Depot store. That gives Home Depot a lot of room to grow as it adds capabilities to handle pros' entire orders, he said. Home Depot is changing other aspects of its business to support pros who handle complex and pricey projects. He said Home Depot is trying to bring to the pro business what it once did to DIY — turn itself into a one-stop shop.
Persons: Chip Devine, Home Depot's, Devine, Ted Decker, You've Organizations: Home Depot, CNBC, Depot Locations: Detroit , Los Angeles, San Antonio, Toronto, Dallas
I hope President Biden doesn’t show up for his State of the Union address on Thursday with a Snickers bar. Biden is obsessed with high prices because voters are, and he knows that to beat Donald Trump in November he needs to make a strong case that he’s wrestling inflation to the ground. But there are good ways and bad ways to fight inflation. One of the bad ways, I think, is to put the blame on price gouging and corporate greed, as Biden has done on numerous occasions. Gouging refers to abrupt, extreme price increases to take advantage of temporary scarcity, often accompanied by hoarding.
Persons: Biden doesn’t, Biden, Donald Trump Organizations: Politico, Times
Charmed by a City Off Thailand’s Beaten Path
  + stars: | 2024-03-04 | by ( Patrick Scott | ) www.nytimes.com   time to read: 1 min
Thailand is renowned among hard-charging tourists for nightlife in Bangkok, full moon parties on Koh Phangan island and hedonistic walking streets in Pattaya. It’s also a magnet for the bohemian and wellness crowds who flock to the mountain destinations of Chiang Mai and Pai. But mostly ignored by foreign tourists is Lampang, in Northern Thailand. This utterly charming, riverside city of about 90,000 people has preserved the historic architecture and stately squares from its days as a major city in the ancient Lanna kingdom and a hub in the teak lumber trade. Wooden temples from centuries ago and two-story teak mansions from the late 1800s and early 1900s still stand, and alongside the Wang River, the streets in the Kat Kong Ta enclave are like an open-air museum of well-preserved Chinese shophouses and European gingerbread-style buildings.
Persons: Koh, Chiang Mai, Pai Locations: Thailand, Bangkok, Pattaya, It’s, Lampang, Northern Thailand
Two thirds of US consumers shop at Home Depot, and the brand has similar customer loyalty as Lowe's. The store's typical customer is a white baby boomer who earns over $80K a year and owns her home. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Numerator found that Home Depot's typical shopper is a white woman over 60 years old who owns her home in the suburbs. The typical customer now makes 10 trips to Home Depot and spends about $85 per trip for an annual spend of $856, whereas, in last year's report, they spent $1,052 across 12 trips the year before.
Persons: boomer, , Lowe's Organizations: Service, Depot, Home Depot Locations: North America, Atlanta
Jim Cramer says be patient and stick with Home Depot
  + stars: | 2024-02-21 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer told investors to hold on to stock of home improvement retailer Home Depot , even though its most recent quarter lacked luster. "Sure, the quarter wasn't great, but the conference call commentary I found encouraging, which is why I'm willing to be patient and hold on to Home Depot," he said. Cramer called management's outlook "appropriately conservative," saying the company is optimistic, but not yet ready to declare a decisive turnaround. Now that inventory is under control, the company is poised for better future, Cramer said. "Besides, I'm betting that management deliberately gave a conservative forecast—they like to under promise and over deliver at Home Depot."
Persons: CNBC's Jim Cramer, Richard McPhail, Cramer, Ted Decker's, Decker, Depot's Organizations: Home, CNBC, Home Depot, Reserve
Home Depot on Tuesday said quarterly sales declined nearly 3% year over year, but it surpassed Wall Street's earnings and revenue expectations despite the cooler demand. On a call with CNBC, Chief Financial Officer Richard McPhail said demand dipped throughout the year as consumers returned to more typical spending patterns. The home improvement retailer said it expects total sales to grow about 1% in fiscal 2024, which includes an additional week. That compares with a 1.6% increase expected by Wall Street, according to StreetAccount. Home Depot shares fell slightly during early trading Tuesday after the company shared its quarterly results and outlook.
Persons: Richard McPhail, McPhail Organizations: CNBC, Wall, Depot, LSEG, Home Depot
Amy Bass Rodney BedsoleThis time around, football pundits wondered if Super Bowl LVIII would be the coronation of Chiefs coach Andy Reid and the establishment of a Kansas City dynasty with a third title in five years. This Super Bowl matchup, of course, had history. “We’re not done.”Key to any Super Bowl, of course, is the halftime show. Compared to Usher on roller skates, the commercials – which often take center stage of any Super Bowl broadcast — were relatively tame. “Taylor Swift is in Las Vegas,” commentator Ian Rappoport had assured Taylor Nation.
Persons: Amy Bass, Read, Patrick Mahomes, Mecole, ” Hardman, Tom Brady, Michael Che, , Donald Trump’s, Lady Gaga, Amy Bass Rodney Bedsole, Andy Reid, Kyle Shanahan’s, Mike, Taylor Swift, Travis Kelce, Reid, Kelce, Shanahan, Brock Purdy, George Kittle, Swift, Taylor, Purdy, Jake Moody’s, Harrison Butker, Moody, Butker, Mahomes, “ We’re, Usher, Alicia Keys, Lil Jon, Ludacris, Lionel Messi, Dan Marino, Jason Sudeikis shilled, Matt Damon, Ben Affleck, Jennifer Lopez, Dunkin, Robert F Kennedy Jr, , Kennedy, Kennedy Jr’s, Taylor —, “ Taylor Swift, Ian Rappoport, “ I’ll, , Ashley Avignone, Joe Biden, Trump, ” Taylor, Joe Biden ”, Biden, Biden — Organizations: Manhattanville College, CNN, Kansas City Chiefs, San Francisco 49ers, Atlanta Falcons, New England Patriots, Budweiser, Denver Broncos, Chiefs, 49ers, Super, Kansas City, Verizon, PAC, “ GO CHIEFS, NFL, Truth Locations: America, Kansas, San Francisco, Japan, Las Vegas, Mahomes, Cetaphil’s, Massachusetts, Sephora
Nearly half of all flash flood deaths are vehicle-related, experts say, which is why you should never drive into a flooded street. Here’s what to do in advance — and in the moment — to get through a flash flood safely. A “flash flood warning” means a flash flood is imminent or already occurring, and you should immediately move to higher ground if you’re outside or in a basement apartment. The most dire alert is a “flash flood emergency,” which indicates that not only is flooding occurring, but it’s posing a severe threat to human life. “People need to realize that most people who lose their footing in a flash flood don’t get out,” she said.
Persons: there’s, , Bonnie Schneider, Schneider, it’s, Hurricane Ida, You’ll, Ready.gov, David Markenson, ‘ It’s, Sabine Marx, I’m, Julie Munger, Munger, , Dr, Markenson, you’re, don’t, they’re, Ms, Lynn Burttschell, Burttschell, Eugene Resnick, , ” Susan Shain Organizations: National Weather Service, Federal Emergency Management Agency, Cross Training Services, Columbia University’s National Center for Disaster Preparedness, Sierra Rescue, FEMA, Wimberley, Metropolitan Transportation Authority, New York Times Locations: United States, New York City, New York, Madison, Wis
Nearly half of all flash flood deaths are vehicle-related, experts say, which is why you should never drive into a flooded street. Here’s what to do in advance — and in the moment — to get through a flash flood safely. A “flash flood warning” means a flash flood is imminent or already occurring, and you should immediately move to higher ground if you’re outside or in a basement apartment. The most dire alert is a “flash flood emergency,” which indicates that not only is flooding occurring, but it’s posing a severe threat to human life. “People need to realize that most people who lose their footing in a flash flood don’t get out,” she said.
Persons: there’s, , Bonnie Schneider, Schneider, it’s, Hurricane Ida, You’ll, Ready.gov, David Markenson, ‘ It’s, Sabine Marx, I’m, Julie Munger, Munger, , Dr, Markenson, you’re, don’t, they’re, Ms, Lynn Burttschell, Burttschell, Eugene Resnick, , ” Susan Shain Organizations: National Weather Service, Federal Emergency Management Agency, Cross Training Services, Columbia University’s National Center for Disaster Preparedness, Sierra Rescue, FEMA, Wimberley, Metropolitan Transportation Authority, New York Times Locations: United States, New York City, New York, Madison, Wis
AdvertisementMike Coleman has seen a lot in his five years selling vintage furniture. Reselling high-quality, vintage furniture is a growing business. taikrixel/Getty ImagesHow furniture materials got so…cheapInnovation in materials during the 20th century disrupted the furniture business. It's not just about where you look for quality furniture, but also about rethinking the decision-making process before purchasing a piece. Coleman, of Big Mike's, said even he acknowledges that in today's world, it's impossible to buy vintage 100% of the time.
Persons: , Mike Coleman, I'm, Coleman, CoCo Ree Lemery, grandkids, Lemery, Jonathan Adler, it's, There's, she'd, James W, Gayle DeBruyn, Anthropologie, DeBruyn, Gary Coronado, Big Mike's Organizations: Service, Purdue University, Consumers, Furniture, Kendall College of Art, Ferris State University, Urban, Los Angeles Times, Facebook, Ikea Locations: Chicago, China, Williams Sonoma, India, Zara, Banana Republic, Watts, Los Angeles , CA
American Airlines — The airline stock added 1.5% following an upgrade to buy from neutral at Citi. "North America's network carriers' diversified revenue streams and solid demand for premium cabin offerings appear to provide them with superior positioning in this post-pandemic environment," wrote analyst Stephen Trent. Builders FirstSource — The building materials manufacturer edged 2% higher following an upgrade to buy from neutral at Bank of America. ZoomInfo Technologies — The software stock popped 5.5% after Bank of America analyst Koji Ikeda upgraded it to buy from neutral. "We believe it is a classic self-help story that is set to outperform," the analyst wrote, underscoring the company's revenue growth reacceleration and new AI products as potential catalysts.
Persons: Stephen Trent, Flywire, Morgan Stanley, Omar Nokta, Hershey, Wells, Steven Cahall, , Cowen, Rafe Jadrosich, Julien Dumoulin, Smith, FactSet, Koji Ikeda, McGrath RentCorp — McGrath RentCorp, CNBC's Michelle Fox, Alexander Harring, Sarah Min, Jesse Pound Organizations: JPMorgan, American Airlines —, Citi, Zim Integrated Shipping Services —, Jefferies, Warner Bros, Bank of America, Bloom Energy, Koninklijke Philips —, Food and Drug Administration, Technologies, WillScot Mobile Locations: Albemarle, Netherlands
Dollar Tree — Shares of the discount retail chain popped 1% following an upgrade to overweight from neutral at JPMorgan. SoFi Technologies — Shares of the financial services provider surged 21% after the company reported its fourth-quarter financial results. ZoomInfo Technologies — Shares jumped more than 6% after Bank of America upgraded shares to buy from neutral on revenue growth acceleration. The firm cited tailwinds including improving market share and volume trends, as well as an attractive valuation and strong top-line growth. Flywire — Shares of the fintech company gained 3.75% after being upgraded by Morgan Stanley to overweight from equal weight.
Persons: McGrath RentCorp, McGrath, SoFi, iRobot, Koji Ikeda, Wells, Flywire, Morgan Stanley, Beam, , Samantha Subin, Yun Li, Michelle Fox, Alex Harring, Lisa Kailai Han, Sarah Min, Pia Singh, Tanaya Macheel Organizations: WillScot Mobile, JPMorgan, Wall, Amazon, Bain Capital, Western Digital, Kioxia Holdings, Bloom Energy, Bank of America, ZoomInfo, Hershey —, AllianceBernstein, Warner Bros, , Beam Locations: Japan, AATD
JPMorgan upgrades Dollar Tree to overweight from neutral JPMorgan said in its upgrade of the stock that it's a "self-help" story. Bernstein upgrades Hershey to outperform from market perform Bernstein said in its upgrade of the chocolate maker that market share trends are improving. " Goldman Sachs reiterates Nvidia & Micron as buys Goldman said it's standing by shares of Nvidia and Micron. Bank of America upgrades ZoomInfo to buy from neutral Bank of America said the software company is a "self-help" story. Bernstein reiterates Qualcomm as outperform Bernstein said it's bullish heading into Qualcomm earnings later this week.
Persons: Wells, Jefferies, it's, Evercore, Bernstein, Hershey, Goldman Sachs, Goldman, Raymond James, Sherwin, Williams, Morgan Stanley, William Blair, Morgan Stanley downgrades Brown, Forman Organizations: UBS, Amazon, Amazon Web Services, Citi, Air, Deutsche Bank, TFI, Deutsche, JPMorgan, Warner Brothers Discovery, Microsoft, Meta, YouTube, Nvidia, Micron, MU, Netflix, Barclays, Apple, Colgate, Palmolive, " Bank of America, of America, Beam Therapeutics, Bank of America, Builders, Devices, AMD, Qualcomm Locations: Norfolk Southern, Atlanta
SPI owns more than 2.4 million acres of timberland in California, Oregon, and Washington, The Land Report says. Red Emmerson's sons, George and Mark, are chair and CEO of the company. AdvertisementYou've likely never heard of Red Emmerson and his sons George and Mark. But they're the US' largest private landowners – and they've held onto the title since 2021, according to the latest edition of The Land Report. The family owns more than 2.4 million acres of timberland in California, Oregon, and Washington, The Land Report said.
Persons: Red Emmerson's, George, Mark, , Red Emmerson, they've Organizations: Sierra Pacific Industries, Service, Business Locations: timberland, California , Oregon, Washington
Business Insider spoke with two former Home Depot employees, Janet Federico and Matthew De Fiebre, about things they wish customers would stop doing in the big-box store. De Fiebre, who worked as a garden and order-fulfillment associate in 2019 and 2020, said showing employees grace goes a long way. There are lots of different departments in each Home Depot store. AdvertisementBut Federico told BI that too many people ignored the options, leaving the burden on the employees. "I can't eyeball measurements from a photo, and holding up your hands and saying, 'about this wide' is not helpful," Federico told BI.
Persons: , Janet Federico, Matthew De Fiebre, Fiebre, aren't, De Fiebre, Federico, it's Organizations: Service, Home Depot, Business, Home, Staff, Depot Locations: Austin, Texas, Home
Thoughts and prayers for the players who only kept full PGA Tour cards without guaranteed access to the signature events. And now the signature events will have $20 million purses (same as LIV) with $4 million to the winner (same as LIV). “How many golf fans actually know what the PIP on the PGA Tour is?” he wrote on Instagram, posting the results for all to see. “There’s 150-200 members of the PGA Tour and they just spent $100 million on 20 players. Lashley wasn’t criticizing the PGA Tour on behalf of everyone, but he’s not a lone voice.
Persons: won’t, Jay Monahan, LIV Golf, LIV, Barbara Nicklaus, Nate Lashley, Rory McIlroy, Tiger Woods, pipping, Woods, McIlroy, Jon Rahm, Jordan Spieth, Scottie Scheffler, , , Wyndham Clark, Clark, Lashley, Scheffler, Cameron Smith, Lashley wasn’t, he’s, Emiliano Grillo, ” Grillo, you’re, We’ve, Lanto Griffin, ” Griffin, Golfweek, I’ve, It’s, it's, ___ Organizations: Players, FedEx, Saudi, Sports Business, Lashley, PGA, PGA Tour, Wells, U.S ., Ryder, He's, Colonial, Torrey Pines Locations: Rome, Bahamas
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