Retailers brace for empty shelves as U.S. imports decline

• In the CEO today: Diane Brady on how housing costs rise.
• The big story: American retailers are preparing for empty shelves with the collapse of US imports.
• Markets: Surprisingly, despite everything.
• Analyst notes From Apollo on the China Trade Mullapse, JPMorgan on “Trump Revorion”, Goldman Sachs on “Foreign Investors Journey from American Assets” and UBS on Trump.
• plus: All news and water chat from luck.

Good morning. Americans face a set of economic problems at the present time, and while definitions dominate the main headlines, housing costs are permanent pressure for workers – and therefore the presidents as well. In a built on the eastern side of Manhattan, I met many professionals in the thirties of the age of the room because they cannot rent on their own. I know the people who changed jobs or rejected transportation due to housing costs. It is especially difficult for younger or low -income consumers: Beginners’ home now cost a million dollars in half of the states, according to a new Zillow report, and California lawmakers are considering a bill that allows homeless students to sleep in their cars. (Many of this traditional being the peak of the house construction season.)

Business leaders feel the effect as high housing costs have curbed the transfer of work, return plans to the office and the ability of employers to employ in places such as Silicon Valley. One of the CEOs recently told me that he was left in the employees’ demand to attend every day because he knows to what extent some people must move and the difficulty of giving up low -cost real estate loans to buy a house closer to the headquarters.

Michael Levinfeld, CEO of Hexion, who makes advanced materials used in construction, told me last week that he believed that “we are talking a lot about the costs of mortgage and housing, and not enough about the permit and applying for a rate.

“I am surprised that Donald Trump has not adopted housing policies to win general support – or public pressure on cities as he did with immigration. Instead, the new customs tariffs of management can add costs of about 10900 dollars per house, according to his new official in the housing market. Austin, which has issued about 10 times the per capita permits from San Francisco in recent years, It also outperformed its rival in California in the growth of high -tech functions.

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Call the executive daily via Diane Brady at Diane.brady@fortune.com

This story was originally shown on Fortune.com