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☆ Top analyst cuts Tesla price target while projecting it will 'widen its lead' in EVs
▼ + stars: | 2022-12-29 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Morgan Stanley's Adam Jonas cut his price target on Tesla to $250 per share from $330, citing weaker demand for electric vehicles, but kept his overweight weighting on the stock. Tesla's stock is down 68% year to date, and 42% in December alone. Tesla appears to be responding to the weaker demand by slowing the rollout of its cars. However, the weaker market for electric vehicles is a bigger threat to Tesla's competitors than Musk's company, Jonas said. "On a relative basis, the reiteration of our OW rating must be seen vs. more challenged EV-related peers such as EW-rated Fisker (FSR), UW-rated Lucid (LCID), and UW-rated QuantumScape (QS)," Jonas wrote.

☆ Tesla's set to grow its lead in the electric car race despite its worrying demand slump, Morgan Stanley says
▼ + stars: | 2022-12-29 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

But Elon Musk's automaker remains poised to lead the EV race in 2023, Morgan Stanley said this week. EV supply outpacing consumer demand next year will benefit Tesla. Tesla will "widen its lead in the EV race" next year, Adam Jonas said. Even with the increased competition, Tesla may be in a position to extend its lead in 2023, Jonas wrote. All automakers, Tesla included, have struggled to get the cost of their EVs down.

☆ Oil CEOs say this winter is not the season to worry about when it comes to the energy crisis
▼ + stars: | 2022-11-01 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

The global economy is facing an onslaught from multiple sides — a war in Europe, and shortages of oil, gas and food, and high inflation, each of which has worsened the next. But as much concern as there is ahead of this winter, it's really the winter of 2023 that people should be worried about, major oil and gas executives have warned. "It's the next winter I think many of us worry, in Europe, could be even more challenging." watch nowThe CEO of Italian oil and gas giant Eni expressed the same worry. For this winter, Europe's gas storage is around 90% full, according to the International Energy Agency, providing some assurance against a major shortage.

Pappas, 27, an aspiring actress, says it is not the dividend young people hoped for after a ravaging debt crisis and a decade of austerity. He attributes the surge in rents mainly to "an overly depressed market during the (debt) crisis." Loan-to-values on mortgages have dropped to 70-75%, from more than 100% before the debt crisis. Banks' caution underpins financial stability but could also keep young working people off the property ladder for decades. Officials expect about 10,000 young couples aged 25-39 will benefit from the programme offering 1% interest on loans up to 150,000 euros.

☆ This was the least affordable week to buy a home in 35 years
▼ + stars: | 2022-09-09 | by ( James Rodriguez | ) www.businessinsider.com time to read: +3 min

Housing affordability reached a new low as mortgage rates spiked while home prices remained high. The average rate for a 30-year fixed-rate mortgage hit a new pandemic-era high, jumping to 5.89% for the week ended Thursday, according to Freddie Mac. That payment-to-income ratio has reached its highest point in 35 years, eclipsing a previous high set in June, according to Black Knight. With fewer buyers competing for homes, sellers may be forced to cut their prices in order to reach a deal. "Given the large role affordability challenges appear to be playing in shifting housing market dynamics, the recent pullback in home prices is likely to continue," Walden said in a statement.

Some of the most expensive housing markets, including San Jose and San Francisco, experienced slight home-price declines. Homebuyers in the San Francisco metro area must earn just under $200,000 a year to qualify for a mortgage with 20% down. Each quarter, NAR calculates qualifying income requirements for all US metropolitan-statistical areas assuming the buyer puts 25% of gross income toward the mortgage principal and interest. Metro areas are based on the US Census definitions. Below, we've pulled the qualifying annual income amounts for the 25 largest metros by population, ranked from lowest to highest qualifying income with 20% down.

Persons: Lawrence Yun, Yun, we've Organizations: National Association of Realtors, Service, Los Locations: United States, Jose, San Francisco, Wall, Silicon, Los Angeles, Detroit, Pittsburgh

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