Home Depot to Buy Roof-Supply Firm SRS for About $18.25 Billion
Home Depot Inc. is making its biggest acquisition ever to win over more professional contractors as the company looks beyond its do-it-yourself roots to revive growth.
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Home Depot Inc. is making its biggest acquisition ever to win over more professional contractors as the company looks beyond its do-it-yourself roots to revive growth.
Mortgage rates in the US declined, helping to ease affordability challenges for homebuyers.
Country Garden Holdings Co., one of China’s biggest property developers, warned it will miss a deadline for reporting annual results, further complicating plans to restructure its debt following a default last year.
More New Yorkers have stopped paying their property taxes — a troubling trend since the onset of the pandemic that city officials attribute to the end of a tax-lien sales program that punishes delinquency.
US consumer sentiment rose markedly toward the end of March, supported by strong stock-market gains and expectations that inflation will continue to ease.
Jul 11, 2019
Bloomberg News
,(Bloomberg) -- The U.S. housing shortage has the attention of Federal Reserve Chairman Jerome Powell.
Homebuilders are being held back by a “series of factors,” including higher materials costs, a skilled-labor shortage and President Donald Trump’s immigration and tariffs policies, Powell said during a Senate Banking Committee hearing Thursday.
“What we hear from the homebuilders is that it’s a series of factors that are really holding them back and driving and challenging affordability,” Powell said in response to a question by Democratic Senator Tina Smith of Minnesota.
Powell said that tougher immigration policies may be in part to blame for the difficulty in finding workers, and tariffs also drive up costs.
“Material costs too have gone up, and some of that is tariffs, for sure,” he said. “The homebuilders feel almost like they’ve been hit by a perfect storm.”
To contact the reporters on this story: Prashant Gopal in Boston at pgopal2@bloomberg.net;Reade Pickert in Washington at epickert@bloomberg.net
To contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Christine Maurus
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