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.
39:03
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The U.S. housing market is facing challenges due to high prices and interest rates, causing a significant slowdown in home sales.
- SoftBank's $100 billion investment pledge in the U.S. aims to create jobs focused on AI, despite concerns over funding and past effectiveness.
Deep dives
Current State of the U.S. Housing Market
The U.S. housing market is experiencing considerable challenges in 2024, primarily due to high home prices and elevated lending rates, significantly slowing home sales. Although existing home sales saw a minor rise recently, forecasts indicate a temporary boost in new home sales driven by recovery in southern markets affected by hurricanes. However, these positive signs are tempered by a nationwide decrease in demand, as rising interest rates above 7% dampen buyer activity. The competitive landscape is shifting as existing home supply begins to meet pre-pandemic levels, particularly in previously hot markets like Florida and Texas, highlighting the need for builders to offer more incentives to attract buyers.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
