Morning Business Report: Housing costs rise as markets gain, study warns Iran war could cost $1 trillion
According to the report, regulatory hurdles can add more than $100,000 to the cost of a home while also slowing down construction.
(LILAMAX)- A new report from the Council of Economic Advisers suggests that increasing housing supply and cutting bureaucratic red tape could significantly improve affordability across the country.
According to the report, regulatory hurdles can add more than $100,000 to the cost of a home while also slowing down construction. While federal policies play a role, officials say state and local regulations are also major contributors to rising housing costs.
In the private sector, Lowe’s is rolling out a new subscription service aimed at homeowners. The program, called HomeCare+, offers maintenance services such as dryer vent cleaning, HVAC filter replacement and smoke detector updates.
The service is available nationwide for $99 a year and is offered to members of the company’s MyLowe’s Rewards program.
On Wall Street, stocks posted back-to-back gains amid optimism surrounding a potential U.S.-Iran agreement. Tech stocks, particularly software companies, led the rally after being hit hard in recent weeks.
However, a study from Harvard University warns the conflict with Iran could come with a hefty price tag. Researchers estimate the war could cost U.S. taxpayers up to $1 trillion, factoring in military operations, equipment losses and other expenses.
Supporters of the military effort argue the cost may be justified if it prevents a nuclear-armed Iran, which they say could pose even greater long-term risks.
Meanwhile, new data highlights the emotional toll of unemployment in today’s economy. A survey conducted by Talker Research for Pelgo found only 23% of unemployed adults feel consistently motivated in their job search.
The survey also revealed 31% have stopped actively looking for work, while 35% say their motivation fluctuates. One in four respondents reported feeling hopeless at times, and a similar number said they feel overwhelmed by rejection.
On average, unemployed Americans have been searching for jobs for six months, with nearly a third looking even longer.
The latest data reflects a complex economic landscape, with optimism in financial markets contrasted by ongoing challenges in housing affordability and employment.
