- Today's CEO every day: Diane Brady about how high housing costs can hold back the business.
- A great story: American retailers braces empty shelves as US imports collapse.
- Markets: Surprisingly floating, despite everything.
- Analyst notes From Apollo to the collapse of Chinese trade, JPMorgan on “Trump's exhaustion”, Goldman Sachs “Foreign Investor flight from US assets” and UBS Trump.
- Plus: All the news and the waterhops are chatting TreasureTo.
Good morningTo. Americans are currently facing litania of economic ailments, and while the titles are dominated by tariffs, housing costs for employees are a constant burden – and thus for bosses. In my building in the Land of Manhattan, I have met several professionals in several years in the thirties who have a roommate because they cannot afford their own rent. I know people who exchanged jobs or rejected the transfers due to housing costs. According to the New Zillow report, it is particularly difficult for younger or lower income consumers: Starting home costs half a million dollars in states and California legislators weigh a bill that lets Homeless students sleep in their vehiclesTo. (So much for this is a traditionally home decision season.)
Company executives have an impact because high housing costs have curbed labor mobility, plans to withdraw, and employers' ability to recruit in places such as Silicon Valley. One CEO recently told me that he had to come in from employees every day because he knows how far some have to commute and how difficult it would be for many to give up stable cheap mortgages to buy home headquarters closer.
Hexion CEO Michael Lefenfeld, which makes the materials used in construction, among other things, that he thinks we are talking about too much mortgage loans and housing costs, and not enough permissions and house construction applications.
“I am surprised that Donald Trump has not accepted housing policies to win public support, nor public pressure on cities, as he has done with immigration. Instead, new tariffs could be added to building materials Costs about $ 10,900 per homeAccording to the new NAHB/Wells Fargo Housing Market Index. And suppression of immigration can change the finding of employees to build new units. But housing policy is, of course, local. It says that austin that has released 10 times more permission per capita If San Francisco has also exceeded its California rival for high -tech job growth in recent years.
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Contact each day through Diane Brady at diane.brady@forten.com
This story was originally reflected on Fortune.com
