Bloomberg Daybreak: US Edition Daybreak Weekend: US Home Sales, Europe Stocks, Softbank Investment
Dec 21, 2024
Catherine Thorbeck, Bloomberg Opinion's Asia tech columnist, shines a light on SoftBank’s ambitious $100 billion investment in the U.S. tech sector and the intricacies of securing funding amidst past financial hurdles. The conversation also navigates the challenges facing the U.S. housing market and strong retail performance despite economic strains. Additionally, Thorbeck discusses potential mergers in the Japanese auto industry, emphasizing the urgent need for innovation in the electric vehicle market and the impact of Chinese competition.
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US Housing Market 2024-2025
- 2024 has been a slow year for US home sales due to high prices, rates, and low inventory.
- There's hope for improvement in 2025 with increasing inventories and some positive sales data.
Regional Dynamics in US Housing
- Regional dynamics will play a larger role in builder performance in 2025.
- Affordability challenges are nationwide, but supply issues are concentrated in the South.
Mortgage Rates Remain High
- Despite Federal Reserve rate cuts, mortgage lending rates remain above 7%.
- This unexpected rise is attributed to a strong economy and potentially inflationary new administration policies.