FT News Briefing The housing supply problem: Part 4
Jun 14, 2023
Carmine Di Sibio, EY's CEO, announces his retirement amidst strategic missteps. JPMorgan settles a massive lawsuit linked to Jeffrey Epstein, highlighting ongoing legal and ethical issues. The podcast delves into the housing crisis, revealing how stubborn inflation is affecting markets in both the U.S. and the U.K. Despite rising interest rates, high home prices remain stable due to limited inventory. Political pressures are rising as governments ramp up efforts to tackle housing supply issues with elections on the horizon.
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EY CEO Retirement
- EY's global chief executive, Carmine Di Sibio, is retiring after leading a failed attempt to split the company's auditing and consulting businesses.
- The costly project caused internal conflict and ultimately did not succeed.
JPMorgan Settlement
- JPMorgan Chase will pay $290 million to settle a lawsuit linked to its relationship with Jeffrey Epstein.
- The lawsuit alleged the bank profited from Epstein's human trafficking activities.
Housing Affordability Struggles
- A young Londoner shares housing and does chores for an elderly woman to avoid high rents.
- A North Carolina couple searched nine months for an affordable starter home, finding options either outdated or unattractive.