Bloomberg Daybreak: US Edition

Daybreak Weekend: Housing Data, German Elections, Alibaba Earnings

8 snips
Feb 14, 2025
Oliver Crook, Bloomberg's Germany correspondent, shares insights on the dynamic landscape as Germany approaches its elections. He discusses the rise of the far-right AFD party and how this shift could affect coalition negotiations and economic policies. The conversation also delves into key issues such as migration and defense spending. Meanwhile, housing data trends and challenges surface in the US, alongside Rivian's strategic moves in the EV market, making for a thought-provoking analysis of current global economic conditions.
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INSIGHT

Current State of US Housing Market

  • The US housing market is currently soft due to low affordability from high home prices and 7% mortgage rates.
  • Builders are cautious, matching production with demand, impacting both new and existing home sales.
INSIGHT

Increased Unsold Inventory

  • Increased home listings are staying unsold for longer periods, up to two months on average.
  • This shift in the competitive environment puts pressure on builders' volumes and pricing, especially in Florida and Texas.
INSIGHT

Rivian's Expected Q4 Performance

  • Rivian is expected to report positive gross margin in Q4, driven by internal factory and product changes.
  • This achievement is crucial for securing further investment from their partnership with Volkswagen.
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