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U.S. President Donald Trump is reportedly considering declaring a national emergency over housing, aiming to protect existing homeowners property values while simultaneously facilitating homeownership for new buyers amidst deepening affordability concerns across America.
In economic news, U.S. consumer prices rose less than anticipated in November, offering a temporary reprieve from inflation worries. The Consumer Price Index saw a 2.7% year-on-year increase, below the 3.1% forecast.
This moderation is attributed partly to technical factors, including a government shutdown affecting data collection and holiday discounts. Economists, however, project an acceleration in prices for December, cautioning that the current ease may be short-lived due to existing tariffs and living costs.
Separately, Chinese technology firm ByteDance has signed binding agreements to sell over 80% of TikToks U.S. assets. This move, designed to circumvent a U.S. government ban, involves a U.S. joint venture where Oracle, Silver Lake, and MGX will each hold 15% stakes, with ByteDance retaining 19.9% of the total stock.
TikTok CEO Shou Zi Chew stated this agreement helps resolve long-standing uncertainty for its more than 170 million U.S. users, with the deal expected to close by 22nd January.
