President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Builders ramped up construction in April, but they were mostly building multifamily apartment buildings. A monthly report from the U.S. Census Bureau showed total housing starts up 13 percent month to month, but that was driven by a 43 percent monthly jump in buildings with five or more units. Single-family housing starts rose just under 1 percent for the month.
"Bottom line, with the home ownership rate down to 64.8 percent versus the 2004 peak of 69.2 percent, and the 50-year average of 65.4 percent, the trend to renting is obvious for a variety of reasons we all know," said Peter Boockvar, an analyst with the Lindsey Group. "Expect this trend to continue with the home ownership rate likely falling to below the 64 percent level, give or take, seen between the mid-1980's to mid-1990's."
Single-family home construction so far this year is well below last year. Starts were up just 2 percent from January through April in 2014, while they were up nearly 26 percent during the same time period in 2013. Some will blame weather, but builders say they are simply responding to demand and are also hampered by a lack of land and skilled labor.
"But such shortages are to be expected following the long slump in home building during which workers quit the sector and there was little point in bringing land forward for development. These constraints will ease now that construction work and land development are more attractive options," noted analysts at Capital Economics.
Building permits, which are a better gauge of future construction activity, bode poorly for single-family homes. Those permits are down more than 3 percent from a year ago. This shows builders do not expect demand for single-family homes to strengthen any time soon. In fact, builder confidence in the single-family market slipped in May for the first time in four months.
Meanwhile multifamily construction surged, seemingly unabated, and will continue: Multifamily permits rose to 478,000 from 400,000 to the highest since 2008.
Of all the multifamily starts in the first quarter of this year, 93 percent were intended for rental, and 89 percent were in 20-plus unit buildings, according to an analysis of census data by Trulia's Jed Kolko. Both numbers were around 60 percent during the last housing bubble.
—By CNBC's Diana Olick.