Bloomberg Daybreak: Asia Edition Daybreak Weekend: US Home Sales, Europe Stocks, Softbank Investment
Dec 20, 2024
Catherine Thorbeck, Asia tech columnist for Bloomberg Opinion, shares her insights on SoftBank's bold $100 billion investment plan in the U.S., aiming to create 100,000 jobs in AI and infrastructure. She discusses the implications for the U.S. economy and the competitive landscape in Japan's automotive industry, exploring potential mergers like Honda and Nissan. Thorbeck also delves into the challenges of traditional retail in the U.S. while contrasting it with the performance of off-price retailers during these turbulent times.
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US Housing Market 2024
- The US housing market faced a slow 2024 due to high prices, rates, and low supply.
- New home sales may improve, but rising rates and affordability issues persist.
New Home Sales Slowdown
- Existing home sales rose by almost 5% in November.
- Despite this, the new home market is slowing down due to rising interest rates exceeding 7%.
Regional Housing Dynamics
- Regional dynamics will play a key role in builder performance in 2025.
- Increased existing home supply, especially in Florida and Texas, may pressure builder pricing and incentives.