Tech
Why The US Can’t Build Houses Fast Enough Anymore
The United States is experiencing a shortage in construction materials.
Concrete is the foundation of just about everything. It’s used to construct buildings, highways, bridges, roads and more. During the Covid-19 pandemic, concrete fell victim to the same phenomena affecting other essential materials and goods: snarled supply chains and labor shortages. And demand for concrete has only increased after the Senate passed the $1 trillion infrastructure package.
Additionally, copper prices surged in 2021. The base metal remains in high demand, much thanks to its need in green energy projects and electric cars. In May 2021, commodities analysts at Goldman Sachs called copper ‘the new oil.’ That’s because electric cars need several times more copper than their gas-powered counterparts. And power grids getting electricity from wind, solar and hydro sources also need copper—much more than the industry is currently producing.
Steel is also in short supply and high demand. It’s in everything from dishwashers to cars. Since the start of the pandemic, steel prices have spiked 300% over pre-pandemic levels, pricing over $1,900 at one point. Some worry it’s a bubble that’s about to burst.
Lastly, the U.S. is running out of pain. Demand for raw materials in the paint industry soared over the pandemic as quarantined consumers took to DIY projects and home improvement. But supply couldn’t keep up as global trade networks broke down amid the Covid surge.
SEGMENTS:
00:00 — Can The U.S. Cement Industry Keep Up With The $1 Trillion Infrastructure Bill?
11:24 — Why A Looming Copper Shortage Has Big Consequences For The Green Economy
20:16 — Is The Steel Bubble About To Pop?
31:44 — Why The U.S. Is Running Out Of Paint
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Why The US Can’t Build Houses Fast Enough Anymore
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McAffee CEO Chris Young gives his predictions for tech threats in 2018 like connected device security.
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McAfee CEO Chris Young: Here Are The Top Tech Threats In 2018 | CNBC
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The push to make weight loss drugs more affordable is running into legal limits. Telehealth company Hims & Hers pulled a less expensive oral version of Wegovy after lawsuits from Novo Nordisk and rising regulatory scrutiny. The dispute centers on pharmaceutical compounding, which is legal for individualized patient needs, and whether it crossed into large-scale marketing. With semaglutide no longer in shortage, Novo says compounded versions are not justified. CNBC’s Brandon Gomez reports.
Produced and shot by: Charlotte Morabito
Edited by: Andrea Miller
Reporting by: Brandon Gomez, Annika Kim Constantino
Senior Director of Video: Lindsey Jacobson
Additional Footage: Getty Images
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Why Cheaper GLP-1 Drugs Are Facing Legal Battles
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A technical indicator could show that tech stocks still have positive momentum. Matt Maley of Miller Tabak and Chad Morganlander of Washington Crossing Advisors discuss with Eric Chemi.
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The Key Indicator For Tech Stocks | Trading Nation | CNBC
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The Facebook-owned virtual reality company is developing a new device that interacts with its Rift headset.
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Facebook’s Mark Zuckerberg Teases Oculus Gloves: Bottom Line | CNBC
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The MAHA or Make America Healthy Again movement, inspired by U.S. Health and Human Services Secretary Robert F. Kennedy Jr., is changing SNAP benefits nationwide. It’s also influenced more than 20 states to ban junk food made with synthetic dyes and additives from K-12 schools. CNBC’s Brandon Gomez has more on what this will mean for snack companies and SNAP users.
Reporting by: Brandon Gomez
Produced and Edited by: Natalie Rice
Animation: Jason Reginato, Emily Park, Christina Locopo
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty Images, Gov. Kim Reynolds
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