Rice University opens lab space for new incubator in Texas Medical Center (PHOTOS)
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Rice University officials and Rice Biotech Launch Pad board members cut the ribbon on the headquarters of RBL LLC, a new venture to incubate Rice-backed startups
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CNBC
4 hours ago
- CNBC
Trump says Elon Musk will face 'serious consequences' if he backs Democratic candidates
President Donald Trump told NBC News on Saturday that Elon Musk would see "serious consequences" if he backs Democratic candidates who challenge Republicans supporting the "big, beautiful bill." "If he does, he'll have to pay the consequences for that," Trump told NBC News' Kristen Welker in a phone interview. "He'll have to pay very serious consequences if he does that," he continued, without giving specifics on what that would look like. Trump also said that he thinks his relationship with Musk is done after their public feud erupted this week. "I gave him a lot of breaks, long before this happened, I gave him breaks in my first administration and saved his life in my first administration," Trump said. "I have no intention of speaking to him," Trump added. When asked whether he thinks his relationship with Musk is over, he said, "I would assume so." Trump also accused Musk of being "disrespectful to the office of the president." Trump's remarks are among his most extensive public comments yet on his feud with Musk, and the latest sign that the president is not interested in mending his relationship with the onetime ally. Musk has been a vocal critic of the Trump-backed spending bill that moved through the House last month. Earlier this week, Musk called the spending bill a "disgusting abomination" that will lead to exploding federal budget deficits. "In November next year, we fire all politicians who betrayed the American people," he wrote in a separate X post. Musk's criticism of the spending package — which is now being considered in the Senate — is in part what spurred the clash between the two men. Trump told NBC News that he is still "very confident" that the bill will be passed by July 4, and that he doesn't think Musk could derail the bill. "If you look at the Republicans, we've never been more unified," Trump told NBC News. "The bill is fantastic."
Yahoo
4 hours ago
- Yahoo
Sellers Beware: New Data Suggests Home Prices Have Hit a Brick Wall
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Home prices set records again in March, but the S&P CoreLogic Case-Shiller's U.S. National Home Price Index and other recent data suggest buyers are putting on the brakes in key regions, with early signs of a housing downturn. Meanwhile, Bankrate reported Florida Gold Coast is getting hit especially hard, while the post-pandemic pullback from Austin, Texas is picking up steam. Signs are growing other regions will follow but who knows how low prices can go before attracting today's young buyers. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Invest Where It Hurts — And Help Millions Heal: Case-Shiller reported that annual home-price growth nationwide rose by 3.4% in March, lower than February's 3.9% and January's 4.8%. Just-released Redfin data offers several reasons why the bullish housing tide may be turning. According to Redfin, nearly $700 billion worth of unsold housing inventory is sitting on U.S. real estate listings, 20.3% higher than a year earlier, and an all-time high. It stood at $309 billion in January 2022. Homes listed for 60 or more days comprise nearly half of this backlog. It's also taking longer for sellers to find buyers, up five days year-over-year to 40 days in April. At the same time, housing supply has reached a five-year high. Not surprisingly, Redfin agents report that, in much of the country, "would-be buyers are backing off due to record-high monthly housing costs and widespread economic instability." Monthly housing payments rose to a record $2,882 during the four weeks ended May 18. Sellers will be forced to lower their asking prices if this stalemate continues, potentially recharging the rapidly slowing pace of home sales. However, this may have a snowball effect, further lowering property values across vulnerable regions, and potentially nationwide. It can also have a major impact on the national economy, as homeowners recalculate personal wealth, perhaps negatively impacting consumer consumption. Trending: This Jeff Bezos-backed startup will allow you to . "Stale inventory" refers to unsold homes listed for 60 days or more. This category hit an all-time high at $372 billion in November and dropped to $331 billion in April. Sounds like improvement but May was the natural peak of the selling season and stale inventory may be ticking higher once again. Redfin has taken note and, along with other data points, now forecasts a 1% drop in home prices by year's end. Of course, regional variations may be much wider. Summing up, home prices are still rising but red flags are growing, with nearly 500,000 more home sellers than buyers in the June housing market. "A huge pop of listings hit the market at the start of spring, and there weren't enough buyers to go around," says Redfin agent Matt Purdy. "House hunters are only buying if they absolutely have to, and even serious buyers are backing out of contracts more than they used to." More importantly for those considering home ownership, the slowly turning tide could soon accelerate into a full-blown buyer's market, according to Purdy. "Buyers have a window to get a deal; there's still a surplus of inventory on the market, with sellers facing reality and willing to negotiate prices down", he said. Read Next: With Point, you can Maximize saving for your retirement and cut down on taxes: . Image: Shutterstock This article Sellers Beware: New Data Suggests Home Prices Have Hit a Brick Wall originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
San Francisco Chronicle
5 hours ago
- San Francisco Chronicle
Elon Musk deletes anti-Trump posts as president warns of ‘serious consequences'
Elon Musk has quietly removed several high-profile posts on his social media platform, X, that directly criticized President Donald Trump, signaling a possible deescalation in a feud that exploded into public view this week. Among the deleted posts were Musk's accusations linking Trump to the late financier and convicted sex offender Jeffrey Epstein, as well as a now-vanished endorsement of a user's call for Trump's impeachment and replacement with Vice President JD Vance. The deletions were discovered Saturday morning, though it remains unclear why Musk removed the posts. On Thursday, Musk claimed that without him, Trump would not have secured the presidency, setting off threats from Trump to cut off government contracts with Musk's companies, including Starlink and Space X. 'Time to drop the really big bomb,' Musk replied. '@realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!' The X page that once hosted Musk's post now displays a generic error message: ' page doesn't exist. Try searching for something else.' Musk had also replied 'yes' to a user's post calling for Trump's impeachment. By Saturday morning, that post had also been removed. The posts had marked a sharp escalation in the rift between Musk and Trump, who were once closely aligned. Trump purchased a red Tesla Model S in March and, just last week, appeared at a White House event alongside Musk, where he presented him with a ceremonial golden key to the nation. The alliance began to crack after Musk publicly criticized a sweeping GOP-backed budget measure, the 'Big Beautiful Bill,' which he said did not include the reforms he had championed while leading the Department of Government Efficiency under Trump. On Thursday, Musk called on Trump to 'ditch the MOUNTAIN of DISGUSTING PORK in the bill.' Trump, in turn, dismissed Musk's opposition and suggested cutting off federal subsidies and contracts with Musk's companies. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts,' the president wrote on Truth Social. In an interview with NBC News on Saturday, Trump warned of 'very serious consequences' if Musk were to fund Democratic candidates in retaliation. 'He'll have to pay the consequences for that,' Trump said, though he declined to elaborate. Trump added that Musk was being 'disrespectful to the office of the President.' He added, 'I think it's a very bad thing.' Asked whether he intended to mend the relationship, Trump responded simply: 'No.'
