President Trump has publicly urged homebuilders to accelerate construction, claiming they are holding onto a record number of empty lots. He called on Fannie Mae and Freddie Mac to encourage large homebuilders to act.

President Trump has publicly urged homebuilders to accelerate construction, claiming they are holding onto a record number of empty lots. He called on Fannie Mae and Freddie Mac to encourage large homebuilders to act, aiming to help restore the American dream of homeownership. 

Industry analysts clarified that while homebuilders do control about 2.2 million lots, this figure is not a record, and only a fraction are ready for immediate construction. Experts also noted that builders are already constructing homes at a rate above current demand, and that regulatory barriers at the state and local levels are a more significant obstacle than federal mortgage policies. Most analysts believe there is little Fannie Mae and Freddie Mac can do without risking a repeat of past housing crises.

President Trump calls out homebuilders in social media post

President calling out the homebuilders in a new truth social post saying the FHFA can help but Kenneth our Diana Olick has that story today. Hey Diana. Hey Carl Yeah, President Trump posted that the homebuilders have to start building homes. They're sitting on 2 million empty lots a record He said I'm asking Fannie Mae and Freddie Mac to get big homebuilders going and by doing so help restore the American dream No FHFA director Bill Pulte who oversees Fannie and Freddie posted that he would do just that Pulte then told me he would start meeting with builders today now when I asked him specifically what FHFA could do He said only we shall see we have a lot of tools as the main buyer of mortgages So let's start with the claim that builders are quote sitting on a record number of lots 2.2 million is about right for the 15 public homebuilders, but it is not a record according to Zelman Associates barely a quarter of those are actually ready for construction though as in have roads and sewers and local approvals and It's not like the builders don't want to build Analyst Ivy Zellman told me their goal is to move that lot as fast as possible Simply because it costs them to carry it now this chart shows the amount of homes being built Relative to demand and it's still currently over 100% meaning builders are actually over building and they're aggressively building Speculative homes that is homes without a buyer Lennar has said on earnings calls over and over that they're doing this despite margin pressure Because there's so much pent-up demand that could be Unleashed with lower mortgage rates and that gets us to what could Fannie and Freddie really do now most analysts I spoke with said not much. No one wants to see them lower underwriting standards like they did back in 2006 which of course ended in the worst foreclosure crisis since the Great Depression What they really want to see Sarah and the builders tell me this to a person is they want the federal government to put pressure On states and local municipalities to ease the regulatory environment because that would make home building faster and cheaper Yeah, well now the pressures on them. I mean they do do a lot of business Fannie and Freddie. Thank you, Diana

Former NFL quarterback and Fox Sports analyst Mark Sanchez was charged with felony battery involving serious bodily injury, and could face up to six years in jail, according to Marion County Prosecutor Ryan Mears.

Indianapolis

Mark Sanchez charged with felony, could face up to 6 years in jail

Illinois Gov. JB Pritzker and Chicago Mayor Brandon Johnson announced on Monday a lawsuit against the Trump administration over plans to deploy the National Guard to Chicago.

Chicago

Illinois, Chicago sue Trump over National Guard deployment

A selloff in French markets gathered pace after French media reports that Prime Minister Sebastien Lecornu has resigned. French stocks fell sharply, government bond yields were up 8 basis points and the euro was last down 0.65% at $1.1667.

Paris

French markets tumble after PM Lecornu resigns

Former NFL quarterback Mark Sanchez has been charged with battery, intoxication, and unlawful entry after allegedly attacking a 69-year-old truck driver in Indianapolis. The driver stabbed Sanchez in self-defense, believing his life was in danger. Sanchez is currently hospitalised.

Ex-NFL star Mark Sanchez faces criminal charges in alleged assault

U.S. President Donald Trump's battle with Democratic-led cities is heating up after 200 California National Guard troops have been reassigned to Oregon, despite a judge blocking the deployment to Portland.

Portland

Trump sends National Guard to Oregon despite court block

Israeli planes and tanks pounded areas across the Gaza Strip overnight and on Sunday, destroying several residential buildings, witnesses said, as Palestinians hoped a U.S. plan to end the war would soon ease their suffering.

Jerusalem

Middle East Conflict

Israeli strikes on Gaza continue ahead peace talks

Amenhotep III ruled between 1390 and 1350 BC and was one of the most prominent pharaohs of ancient Egypt.

Cairo

Pharaoh's tomb reopened after more than 20 years of renovations

President Trump has thrust the U.S. military into a critical role deterring illegal crossings into this country at the southern border. As Charlie D'Agata reports, their presence is having unintended consequences.

Santa Teresa

U.S. military presence at southern border angers hunters, hikers

A new CBS News poll shows a majority of Americans disapprove of how President Trump and congressional Republicans and Democrats have handled the government shutdown. Willie James Inman reports on that and Mr. Trump's latest National Guard moves.

Washington

Americans fed up with shutdown, poll finds

Negotiators between Hamas and Israel will begin meetings in Cairo on Monday (October 6) for the release of the remaining 20 hostages and a prisoner swap.  There is a lot of pressure on both sides to get a deal done.

Negotiations between Israel, Hamas set to begin

Japan's ruling party picked hardline conservative Sanae Takaichi as its head on Saturday, putting her on course to become the country's first female prime minister in a move set to jolt investors.

Tokyo

Right-wing Sanae Takaichi set to be Japan's first female premier

For a second day, Israel is launching more strikes on the Strip defying demands from the U.S. to stop attacks. At least 61 Palestinians were killed in attacks across the Strip.

Tel Aviv-Yafo

Israel intensifies Gaza bombardment despite U.S. pressure to stop

Israeli Prime Minister Benjamin Netanyahu says he hopes to announce the release of all the hostages being held by Hamas in Gaza in one fell swoop in the coming days.

Netanyahu: Gaza peace deal is 'close'

The government shutdown reached its fourth day on Saturday. The Senate on Friday went home after another failed vote to keep the government open. Willie James Inman has the latest.

No signs of compromise as government shutdown continues

Tensions are high in Portland, Oregon, as National Guardsmen could possibly be deployed there as early as this weekend. Federal agents and demonstrators squared off again, but Portland's mayor and chief of police say they don't need the help.

Protests in Portland as National Guard mobilizes

“I believe they are ready for a lasting peace.” the U.S president wrote on social media after Hamas announced it was willing to release the hostages and hand over power to other Palestinians.

Trump urges Israel to stop bombing Gaza after peace breakthrough

Israel slowed its Gaza offensive on Saturday after U.S. President Donald Trump demanded it stop bombing in response to Hamas saying it was ready to free hostages under the U.S. plan to end the two-year-old war.

Could the Trump deal end the Gaza war?

Sanae Takaichi has been elected as the head of Japan’s ruling Liberal Democratic Party (LDP) and is therefore likely to become the next prime minister and the first woman to lead the country.

Japan's ruling LDP elects first female prime minister

U.S. President Donald Trump has acknowledged Hamas's partial acceptance of a ceasefire proposal drafted with Israel, and ordered Israel to stop bombing the Gaza strip.

Trump orders Israel to stop bombing Gaza

The state Attorney-General says the city is violating the law by sharing license data with federal agencies. The El Cajon mayor has accused the state of 'bullying' cities.

El Cajon

State sues El Cajon over license plate data

Sean "Diddy" Combs was sentenced on Friday to more than four years in prison on two prostitution-related charges. It follows a roughly two-month-long trial where Combs was acquitted on more serious charges of racketeering and sex trafficking.

Manhattan

Sean "Diddy" Combs sentenced to over four years in prison

The United States Senate on Friday (October 3) failed to advance competing plans to extend federal funding and end the government shutdown, likely pushing the funding lapse into at least next week.

U.S. Senate fails to pass funding bill to end government shutdown

U.S. Secretary of Defense Pete Hegseth announced on social media another strike targeting a vessel allegedly connected to narco-trafficking off the coast of Venezuela. CBS News' Reed Cowan reports.

Hegseth announces another strike against vessel off Venezuela coast

Sarah Mullally has been named as the first female Archbishop of Canterbury in the 1,400-year history of the role, but her appointment immediately drew criticism from conservative Anglicans mainly based in Africa who oppose women bishops.

Canterbury

Church of England names first female archbishop

Israeli forces have intercepted the last vessel of an aid flotilla headed for Gaza. The convoy was in international waters, prompting accusations that Israel violated maritime law. Protests have been staged in cities around the world.

Israel's interception of Gaza aid flotilla prompts protests

U.S. President Donald Trump said that he is issuing a Sunday evening deadline for Hamas to agree to a U.S. peace proposal, backed by the Israeli government, to end the war in Gaza.

Trump issues deadline for Hamas to reach ceasefire deal

Prince William opened up on comedian Eugene Levy's Apple travel show, "The Reluctant Traveler," about his wife Kate, his mother, Princess Diana, and changes to the monarchy when he becomes king.

London

Prince William opens up about family, future plans for monarchy

The White House says the first round of mass layoffs resulting from the government shutdown could be announced on Friday. CBS News' Nancy Cordes reports.

Government shutdown mass layoffs could begin today, White House says

One of the two people who died during the Manchester synagogue attack on Thursday was possibly struck by police gunfire, authorities say. CBS News' Imtiaz Tyab reports.

Manchester

One victim likely killed by police during Manchester synagogue attack

Russian President Vladimir Putin spoke at the Valdai Discussion Club in Sochi, Russia on Thursday (October 2). He fired back at U.S. President Donald Trump's remark calling Russia a "paper tiger", suggesting NATO might be one instead. Putin also warned that if the United States supplied Tomahawk missiles to Ukraine it would trigger a dangerous new escalation.

Breakdown