"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Stocks in Asia were tepid in Tuesday morning trade, while investors looked toward to a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to...Asia Marketsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
PatientsLikeMe was bought by UnitedHealth following a review by Trump's Treasury Department, which scrutinized the start-up because it's backed by Chinese cash.Technologyread more
Some traders think the energy rally is about to wane, despite the sector being one of June's big winners.ETF Edgeread more
Stocks with this one feature are poised to crush the market after a rate cut, according to Goldman Sachs.Marketsread more
An Air Canada passenger traveling to Toronto from a weekend in Quebec City found herself stranded alone on the tarmac and in the dark, in what she described as a "nightmare."Airlinesread more
Taylor Morrison Home CEO Sheryl Palmer sees a major opportunity for the U.S. housing market over the next decade with the acceleration of the millennial generation hitting prime homebuying age.
"We have a huge wave coming at us over the next 5-10 years. It's one of the reasons I'm so bullish," Palmer told CNBC's Diana Olick at the network's Capital Exchange forum in Washington, D.C., on Thursday.
Nearly 45 million Americans will reach the general age of first-time homebuyers in the next 10 years, 3.1 million more than in the 10 years prior, according to a recent analysis by Zillow.
There's just one catch: Fewer millennials can afford to buy a home. The homeownership rate among millennials is about 8% lower than previous generations at the same age, according to the Urban Institute, which noted factors such as delayed marriage, student loan debt and higher urban living prices holding them back.
Additionally, over the last five years, prices for starter homes have increased 57%, while inventory is down 23%, according to Zillow.
"I am excited because the demographics are with us. Now we have to figure out how to build [new homes] ... at the right price," Palmer said.
David M. Brickman, president and incoming CEO of Freddie Mac, said there needs to be a great supply of new homes at lower price points.
"The problem is we don't have enough housing in aggregate. We need about 1.5 million homes each year, and we're barely at 1.2 million. We've been running at that level, we've got a deficit of 4 million houses, which drives rents up and creates a tension," he told Olick at the event.
Brickman added that younger people cannot afford to buy homes at the same age as their parents previously did, reflecting the shift toward rental housing and away from owned housing among younger cohorts.
In fact, 22% of millennials are staying in or returning to live in childhood homes, according to Zillow.
Join CNBC at our upcoming Capital Exchange summits in Washington DC for more candid conversation featuring business and government leaders exploring how they can work together to spur growth.