Clear winners while the homebuyers, there is less incentive to become owners. Scarlet i wonder if it is a terrible thing to be become like a germany. Joe we do have this history of encouraging homeownership. We got the housing bubble. It hurts renters instead of homeowners. Why not see if it balances out and not give a preference to one or the other . Lawrence the bubble was clearly a mistake and it arose from the subprime lender. From the societal point of view, it will enlarge the middle class , having a nation of property owners. Rather than having a nation of tenants. The fact that we have a solid majority of americans owning a home, and look at the overall wealth situation. Homeowners can only have a net 200,000, while the renters are stuck at 5,000. That is a dramatic difference. In order to a large the middle class, we need to encourage more Property Ownership rather than encouraging renting. Julia could we look at the 2 different bills we have going, whether it is the house or
David it has been quite a week. I know we will be talking about the japan data in a moment. , ae a look at my chart simple look at Household Spending in china. Year on year change, a longerterm look because this tends to be a volatile number. What you are seeing is more red than green. In other words, we talk about a demographic problem in japan. Despite what they are doing, there is an underlying current that prevents this from spiking backup. This bike is the frontloading before the sales tax. Here is your base effect. Are come up for the First Time Since 2016, not bad. Full and slowly is the best way to describe this. Haidi it still feels like they are trying to shake off that sales tax implementation. The takeaway is it does not move the needle when it comes to boj policy, still nowhere near that 2 inflation market, getting further and further away from that. We will unpack that data and policy implications. In the meantime, what a roller coaster ride in the u. S. Session , the dec
Television, happy friday. I am alix steel in for stephanie ruhle. He get that jobs number and the markets are we get that jobs number and the markets are inching their way higher. Of time for the news feed, the top stories from around the world. We havent seen a job market like this since 1997, employers adding 2007000 jobs for the six straight month in july adding 2007000 jobs for the sixth straight month in july 207, 000 jobs for the sixth straight month in july. Ford Beat Estimates while nissan, gm, and chrysler came up short. And a big takeover in the slot machine business. It represents a 38 percent premium over the Closing Price yesterday. Investors are breathing a sigh of relief. For more thand 300 points for its first day for its worst day since february. We are asking where do we go from here. We turn to rick reader. Ofsees over 700 billion fixed income at blackrock, the Worlds Largest asset management. We did this last month, we hope we can do it every day going forward. Your
This might be a sign of stabilization in the industry. 481,000 homes. It was little changed from the 82,000 we saw in december. That forecast was 470,000. There had been concerns about supply constraints with new homebuilders not building any particularly lower and homes and higherend homes. It looks like again we might see stabilization there. We are also seeing improvements in the job market, feeding through the home market as well. Better than estimated month over month, down 2 10 of 1 . Julie, thank you for breaking it down. It is time for the bulletin, the top business stories of the morning. Day two of jenny yellens testimony on capitol hill. The chair of the Federal Reserve will be questioned by the House Financial Services committee. Yesterday, testifying before a senate panel. The fed is coming to the end of having Interest Rates near zero. Yellen also said wage growth inflation are too high, which would argue against raising rates anytime soon. Too high . I am not sure about
Headlines today. In washington with the food inflation conduct food inflation report, greg storz and paul sweeney are in new york as the high court dealt what may be a fatal blow to area arielle aereo. The Supreme Court decided today that theyve violated broadcasting copyright laws by taking the signals for free. The justices ruled against the barry diller backed internet startup. A triumph for broadcast , nbc,ies, including abc and cbs, who said that they were threatening the underpinnings of the industry by selling the programming online without licensing fees. Aereo sought to give consumers a new way to watch broadcast tv would do without urges and packages. Customers in 11 cities have been able to watch live and recorded broadcast programs or as little as eight dollars per month. In a statement after the decision the ceo said that the decision by the Supreme Court is a massive set act for the american consumer. He continued that they would continue to fight for their consumers and