Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
President Donald Trump said that he would have a major trade deal with U.K. after it leaves the European Union.Politicsread more
President Donald Trump said Sunday he was not happy after North Korea launched short-range ballistic missiles over the weekend.Politicsread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The nation's homebuilders are pleased with the strong demand they're seeing this spring, but they continue to see buyers being held back by today's high home prices.
Builder confidence rose 1 point to 63 in April in the monthly National Association of Home Builders/Wells Fargo Housing Market Index. It was at 68 last April, and then hit a 2018 high of 70 in May.
Sentiment has remained in the low 60s for the past three months. Anything above 50 is considered positive.
"Builders report solid demand for new single-family homes, but they are also grappling with affordability concerns stemming from a chronic shortage of construction workers and buildable lots," said NAHB Chairman Greg Ugalde, a homebuilder and developer from Torrington, Connecticut.
Of the index's three components, current sales conditions increased 1 point to 69. Buyer traffic rose 3 points to 47 but is still in negative territory. Sales expectations over the next six months fell 1 point to 71.
Builders are trying to cater to strong demand at the entry level of the market, but only a few of the large production companies, like D.R. Horton, were really focused there during the housing recovery. More, like Pulte's Centex brand, are now turning in that direction, but the bulk of new production is still in the move-up market.
Builders have offered incentives and stripped out some higher-end amenities to bring costs down for buyers, but prices are still very high in most major markets. While they might like to build more inexpensive homes, the high costs of finished lots and skilled labor continue to make that difficult.
Mortgage rates did fall back dramatically earlier this year, but they have started to climb again. Buyers today are highly rate-sensitive, given how pricey the market is.
"Ongoing job growth, favorable demographics and a low-interest rate environment will help to modestly spark sales growth in the near term," said NAHB chief economist Robert Dietz. "However, supply-side headwinds that are putting upward pressure on housing costs will limit more robust growth in the housing market."
Looking at the three-month moving averages for regional HMI scores, the Northeast posted a 3-point gain to 51, the Midwest increased 2 points to 53, and the South was up 1 point to 67. The West remained unchanged at 69.