Consumer Bankruptcies, Foreclosures, Delinquencies, and Collections: Free Money Still Doing the Job

by Wolf Richter • Nov 25, 2022 • 154 Comments

Powell said many times consumers can take tightening because loan distress is at historic lows. What consumers cannot take for long is raging inflation.

I Asked What it Would Take to Get Gen Z Back to the Office: “Private Offices, Man. Microsoft Gives Them to Everybody”

by Wolf Richter • Nov 24, 2022 • 187 Comments

What? Old-school offices work better than WeWork playpens? Reinstalling private offices in the growing legions of ghost buildings may be worth a try.

Massive Cancellations Make Mess of Already Low New-House Sales. Inventory Glut at Deep Housing Bust 1 Level. Buyer Traffic Plunges

by Wolf Richter • Nov 23, 2022 • 141 Comments

Another thing: inflation. Just when you thought the construction-cost spike was abating, it hit a new record.

Lose $1.7 billion on $519 Million in Revenue? Bitcoin Miner SPAC Core Scientific Shows How. Bankrupt a Year after Going Public?

by Wolf Richter • Nov 23, 2022 • 148 Comments

Consensual hallucination was required to pull this off.

Investor Purchases of Single-Family Houses Plunged 32% in Q3, Plummeting the Most in “Pandemic Boomtowns”

by Wolf Richter • Nov 22, 2022 • 131 Comments

“The prospect of substantial home-price declines puts them at risk of losing money.”

I Agree: Don’t Regulate Crypto, Let it Burn. Making Good Progress on its Own

by Wolf Richter • Nov 21, 2022 • 349 Comments

By letting it burn, it won’t get big enough to cause major contagion outside of crypto.

Thank You for Your Awesome Support of WOLF STREET!! If You Missed the Fun a Week ago, a Reminder: Please Donate

by Wolf Richter • Nov 20, 2022 • 28 Comments

Your donations are very special to me. They build community. They tell me what I’m doing matters to you. They keep WOLF STREET open to all and less dependent on ads. Thank you!!!

The Most Splendid Housing Bubbles in Canada, November Update: Fastest 5-Month Plunge on Record

by Wolf Richter • Nov 19, 2022 • 99 Comments

Down faster during the bust than up during the bubble: a special feature in some cities. Vague humor wafts around the charts.

Inflation Makes Mess in Japan, Batters Yen. BOJ’s Kuroda Clings by His Last Fingernail to “Transitory”

by Wolf Richter • Nov 18, 2022 • 78 Comments

But he’ll be out in April.

Home Sales Plunge, Investors Pull Back Too, Prices Drop 8.4% in 4 Months, Active Listings & Price Cuts Rise Further

by Wolf Richter • Nov 18, 2022 • 170 Comments

Sellers are struggling with denial: Priced “right,” a home will sell, but “right” is where the buyers are, and they’re a lot lower.

Single-Family Construction Starts Plunge as Homebuilders Drown in Inventory. But Multifamily Construction at 36-Year High

by Wolf Richter • Nov 17, 2022 • 122 Comments

Housing construction has split in two.

Era of Stimulus-Distorted Consumer Credit Ends: Auto Loans, Delinquencies, Prime & Subprime

by Wolf Richter • Nov 17, 2022 • 93 Comments

Auto-loan balances surge on sky-high prices, despite sales plunge. Delinquencies rise to pre-pandemic lows, subprime delinquencies return to 2016-2019 levels.

No Landing Yet, Soft or Otherwise? Retail Sales Hit it out of the Ballpark, But Not All Retailers: By Retailer Category

by Wolf Richter • Nov 16, 2022 • 126 Comments

Restaurants and ecommerce in particular. But people are not flocking back to department stores suddenly, that was a myth.

Where’s the Contagion from the Crypto Implosion?

by Wolf Richter • Nov 16, 2022 • 109 Comments

As the FTX collapse shows, the shenanigans guarantee smooth and efficient contagion inside the crypto zone. But beyond it?

Credit Card Balances, Burden, Delinquencies & Collections in Q3: Consumers Still in Great Shape with their Cards

by Wolf Richter • Nov 15, 2022 • 111 Comments

Credit cards mostly a payment method, paid off monthly. Importance for borrowing declined over the years.

Five-Digit Layoffs Are Here, the Big Ones We’ve Been Waiting for. But the Laid-Off People Are Scattered around the Globe

by Wolf Richter • Nov 15, 2022 • 172 Comments

Other companies are licking their chops at finally being able to hire tech workers.

Inflation Expectations Throw a Curveball

by Wolf Richter • Nov 14, 2022 • 148 Comments

This inflation continues to dish up surprises.

Dear Readers, Please Donate to Support WOLF STREET: Fall 2022 Reminder

by Wolf Richter • Nov 13, 2022 • 38 Comments

Your donations have become crucial in keeping the site free and open to all. Thank you!!

THE WOLF STREET REPORT: Where’s the Contagion from the Crypto Implosion?

by Wolf Richter • Nov 13, 2022 • 208 Comments

As the FTX collapse shows, the shenanigans guarantee smooth and efficient contagion inside the crypto zone. But beyond it?

The Swiss National Bank Began Unloading its Biggest US Stock Holdings, incl. Apple, Microsoft, Amazon, Alphabet, Meta

by Wolf Richter • Nov 11, 2022 • 154 Comments

It still bought Tesla though, which is down by 52%. It took massive losses. And it’s got a bunch of Imploded Stocks.