Morning Brew Daily
Trump Battles Court’s Tariff Block & Home Sellers Outnumber Buyers?
Fri, 30 May 2025
Episode 594: Neal and Toby recap the back-and-forth between the Trump administration and the courts attempting to block his sweeping tariffs. Then, a new study shows the number of home sellers outnumber home buyers by a large margin…but why aren’t prices coming down? Also, Costco reports a positive earnings as it’s able to maintain its low prices amid rising costs.. Meanwhile, a trade theory known as TACO: Trump Always Chickens Out is the Stock of the Week and American policy on international students is the Dog of the Week. Finally, United Airlines is coming back to JFK Airport. Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. LinkedIn will even give you a $100 credit on your next campaign so you can try it yourself. Go to LinkedIn.com/MBD Terms and conditions apply. Only on LinkedIn Ads. Listen to Morning Brew Daily Here: https://www.swap.fm/l/mbd-note Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow Learn more about your ad choices. Visit megaphone.fm/adchoices
What are the latest developments in Trump's tariff battles?
A flood of supplies is hitting the market. It's just like a lot of people are having this apprehensive time. They're grappling with a lot of economic uncertainty. So you see some very, very cautious home shoppers out there. According to a survey released by Bank of America, 75% of prospective home buyers are waiting for home prices and interest rates to fall.
So the housing market is frozen, but it's frozen in kind of like a different way, just from people saying... I can't really afford a house right now, nor do I necessarily even want to take that expense on with these higher mortgage rates.
And one consequence of this, which may be good in your book, is that prices are probably going to fall. Redfin says whenever it's a buyer's market, it might lead to, or it does typically lead to sellers cutting their prices. Wir hatten 22 consecutive Monate von Home-Price-Growth. Das wird später dieses Jahr aufhören zu stoppen, wenn die Preise 1% fallen werden sollen.
Und es geht bereits um 1 in 5 Home-Listungen, die ihre Preise im April reduziert haben. Also sagen die Verkäufer endlich, ich hatte diese Haus auf dem Markt so lange. Vielleicht ist es Zeit für mich, meinen Preis zu starten, obwohl das nicht den größten Geschmack im Mund verleihen würde. Aber sie werden es brauchen, um die Verkäufer wieder zu bekommen, weil das Pool aufgeräumt ist.
Das Problem ist, dass man, obwohl man erwartet, dass die Zuhausepreise mehr als 1% fallen, 1% ist nicht ein Riss, also ich glaube, dass es technisch gut ist, aber der Grund, warum es nicht größer ist, ist, dass Verkäufer immer nur sagen können, hey, ich mag die Zuhausepreise nicht wirklich, ich lebe einfach in meinem Haus für ein anderes Jahr.
Es gibt nichts, was wirklich Leute drückt, um sich zu bewegen, insbesondere mit erhöhten Waren. Das ist Teil der Grund, warum man nicht größere Zuhausepreise sieht, als man sie erwarten könnte.
Und der regionale Ausbruch ist interessant. Wo haben unsere Verkäufer den größten Unterarm? Das wäre in Florida und Texas. Sechs der Top 10 Verkäufer-Markten sind in Florida. Ein weiterer ist in Texas. Der beste Verkäufer-Markt ist Miami. Und es wird von West Palm Beach, Fort Lauderdale, Austin, Texas und dann Jacksonville gefolgt.
In the wide world of retail, there's Costco and there's everyone else. As Walmart raises prices and targets sit empty, Costco is keeping calm and sampling on. The company reported an 8% increase in sales last quarter to $63 billion, topping estimates, and profits also climbed from a year earlier. Costco was essentially concocted in a lab for uncertain economic times like these.
Its high-quality, low-cost items sold in bulk are exactly what inflation-scarred shoppers are looking for. As for tariffs, just about one third of its goods are imported from other countries, with less than half of that coming from China, Mexico and Canada. Plus, it also sells cheap groceries and discounted gas, which are need-to-haves when Americans are avoiding want-to-have items.
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