All posts tagged: Homebuilders

White House Considers Antitrust Probe Into Homebuilders, Bloomberg News Reports

White House Considers Antitrust Probe Into Homebuilders, Bloomberg News Reports

Published by Sam Flores

Feb 6 (Reuters) – Trump administration officials ‌are ​exploring opening an ‌antitrust investigation into U.S. homebuilders as the ​White House ramps up efforts to address the housing affordability ‍crisis in the country, ​Bloomberg News reported on Friday. A White House ​representative ⁠referred Reuters request for comment to the Department of Justice. The DOJ did not immediately respond to the request. One of the possible concerns is the exchange of information ‌through a homebuilder’s association called Leading Builders of ​America, which ‌could be used to ‍limit ⁠housing supply or coordinate pricing, people familiar with the discussions told Bloomberg News. Homebuilders D.R. Horton, Lennar, PulteGroup, and Toll Brothers, who are some of the key members of the association, did not immediately respond to Reuters requests ​for comment. The Leading Builders of America also did not immediately respond to Reuters request. The Department of Justice could launch the inquiry in the next few weeks, though no final decision has been made, the people said, according to the report. The reported move comes days after a report of U.S. …

Homebuilders Tumble On Report White House May Launch Antitrust Probe Into House Affordability

Homebuilders Tumble On Report White House May Launch Antitrust Probe Into House Affordability

Published by Jenni Sidey

Homebuilder stocks are tumbling after Bloomberg reported that Trump administration officials are exploring opening an antitrust investigation into US homebuilders as the White House focuses on tackling the country’s housing affordability crisis. The Department of Justice could open the probe in the coming weeks Bloomberg reported, quoting people familiar with the discussions. It adds that so far no decision has been made and the administration may abandon the effort without launching an investigation. One potential focus is on how information is shared through an industry trade group called Leading Builders of America, according to the people. Officials have grown concerned that the trade group – whose members include Lennar and DR Horton – could be used to restrict housing supply or coordinate pricing. The administration’s interest in homebuilders comes during a period where the cost of buying a home is at its most expensive in decades, with the Covid-era housing boom and subsequent interest rate hikes weighing heavily on buyers. It’s also a precarious time for the builders themselves, with the inventory of unsold homes …

Homebuilders Working On Massive Program To Build Up To 1 Million “Trump Homes” To Boost Affordability

Homebuilders Working On Massive Program To Build Up To 1 Million “Trump Homes” To Boost Affordability

Published by Jenni Sidey

Last October, Dubai-based billionaire and Emaar Properties founder Mohammed Alabbar unveiled an audacious $400 billion proposal to help solve America’s worsening housing shortage by building millions of housing units, describing it as both a humanitarian and economic opportunity that could “reshape the U.S. market” and create up to 20 million jobs.  According to Alabbar, the United States is experiencing a significant housing-supply shortfall, which has led to a crushing lack of affordable housing. Analysts estimate a gap of about 4.7 million to nearly 5 million housing units currently exists in the US. This shortage is the result of many years of underconstruction, soaring costs, regulatory and labor constraints. The effects are broad: higher home and rent prices, fewer first-time buyers, and mobility barriers for workers. In short: a weak supply side has become a drag on affordability, economic growth and inflation control. In response, Alabbar – who now runs the largest real estate developer in the UAE – proposed a $400 billion “fix” at the Reuters NEXT Gulf Summit in Abu Dhabi, capital which he claimed could be …