The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
The supply crisis in the housing market is not letting up, and consequently neither are the gains in home values.
National home prices continued their run higher in November, rising 6.2 percent annually on S&P CoreLogic Case-Shiller's most broad survey, up from 6.1 percent in October. Another S&P index of the nation's 20 largest housing markets showed a 6.4 percent gain, higher than analysts had expected.
Prices nationally are now 6 percent higher than their 2006 peak, while those in the top 20 markets are still 1.1 percent lower.
"Home prices continue to rise three times faster than the rate of inflation, " says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.
Blitzer blames the continued lack of supply for the price gains, citing a very slow recovery in the home construction market. Home builders are ramping up production but are still not at even historically normal levels, never mind the huge pent-up demand in the market.
"Without more supply, home prices may continue to substantially outpace inflation," added Blitzer
Local metropolitan markets seeing the highest gains are those that were rising fastest before the financial crisis. San Diego, Los Angeles, and Las Vegas continue to see strong gains. Seattle and San Francisco are seeing the highest gains of all, due to strong employment and very tight supply in both those markets.
Home prices in November were still benefiting from very low mortgage interest rates, but that is no longer the case. Mortgage rates are up dramatically since the start of this year, making housing less affordable. That could put downward pressure on home prices during the spring market, especially compounded by new tax laws that limit the deductions for property taxes and mortgage interest.
Prices are unlikely to ease by much, however, given the still very short supply of homes for sale. The simple rules of low supply and high demand will serve as a strong contender against higher rates, as bidding wars will likely be less the exception and more the rule in the upcoming spring market.