“Inflation Forecasts Aren’t Worth the Paper They’re Written on”: This Is about the Bank of Canada’s Reaction to Inflation, But it’s the Same in the US and Everywhere by Wolf Richter • Jun 24, 2022 • 214 Comments “Why the current tightening cycle is unlike anything we’ve observed in the past.”
What’s Behind the Collapse of so Many Stocks since Feb 2021? by Wolf Richter • Jun 23, 2022 • 191 Comments This crash beneath the surface showed something had broken, that the magic had died, that hype and hoopla were suddenly unable to carry the day (transcript).
Here’s Where the Inventory Shortages Are, and Where Retailers Are Overstocked, by Retailer Category by Wolf Richter • Jun 22, 2022 • 128 Comments It’s still supply-chain chaos for retailers, but different retailers face different kinds of chaos.
Housing Bubble Woes: Supply Jumps, Sales Drop, Median Price Skewed Higher by Shift in Mix as Bottom Falls Out below $500k, amid Holy-Moly Mortgage Rates by Wolf Richter • Jun 21, 2022 • 248 Comments California special: Pending sales collapse by 30%, prices begin to “moderate,” San Francisco condo prices decline year-over-year.
Stock Market Swoon Pulls Rug Out from under Luxury Home Sales by Wolf Richter • Jun 20, 2022 • 106 Comments The June sell-off did a job on them.
THE WOLF STREET REPORT: What’s Behind the Collapse of so Many Stocks since Feb 2021? by Wolf Richter • Jun 19, 2022 • 230 Comments This crash beneath the surface showed something had broken, that the magic had died, that hype and hoopla were suddenly unable to carry the day.
Commercial Real Estate’s Early Autumn: We Now See Price Cuts, Blown Deals, Widening Bid-Ask Spreads by John McNellis • Jun 18, 2022 • 151 Comments We listed a 40-unit apartment building in the East Bay, a couple months too late, and a shopping center in Silicon Valley. Here’s what happened.
New Vehicle Inventory, Stuck Near Record Lows, Gets Worse as Buyers Shift from Trucks to Economical Cars, which Vanish by Wolf Richter • Jun 17, 2022 • 215 Comments Average price jumps by $5,000 from year ago, to $45,495.
WOLF STREET Mug Shortage Decision Time: Please Weigh in if You’re on the “Mug List,” and Even if You’re Not by Wolf Richter • Jun 17, 2022 • 112 Comments Wait for the original mug (no confirmation it will ever be produced again), or grab the mug I can get.
Morning After J-Pow, Second Time in a Row by Wolf Richter • Jun 16, 2022 • 178 Comments Someone might think, OK, I could speculate with the J-Pow Pattern at the next Fed meeting.
As Gasoline Prices Spike, Demand Destruction Spreads, with Long-Term Implications by Wolf Richter • Jun 16, 2022 • 308 Comments Wait… gasoline exports are rising.
Fed Stops Dillydallying. So OK, Maybe No Softish Landing. Markets on their Own by Wolf Richter • Jun 15, 2022 • 297 Comments This is fast moving now, but the Fed is still pouring fuel on the fire.
Retail Sales Report, May: In Foulest Mood Ever, Consumers Still Spent Hugely at Retailers, Fighting Inflation where they Can by Wolf Richter • Jun 15, 2022 • 130 Comments Spent $20 billion more at gas stations, from a year ago, due to spiking prices; came out of hide of other retailers. Inflation eats everyone’s lunch.
“Real Estate Tech” in Existential Crisis as Housing Sours, Stocks Plunge, New Money Out of Reach: Redfin & Compass Try to Survive by Cutting Staff. Opendoor, Zillow Sag by Wolf Richter • Jun 14, 2022 • 195 Comments In short, the party ran out of bamboozle.
Margin Debt Unwinds Further amid Massacre of High-Flying Stocks and Forced Selling by Wolf Richter • Jun 14, 2022 • 168 Comments Margin debt issued warnings starting in early 2021 that the Big S would hit the fan. Folks blew it off.
That Was Fast: 30-Year Fixed Mortgage Rate Spikes to 6.18%, 10-Year Treasury Yield to 3.43%. Home Sellers Face New Reality by Wolf Richter • Jun 13, 2022 • 274 Comments Something has to give. And it’s going to be price.
First EV SPAC Announces its Stock Will Go to Zero and Die by Wolf Richter • Jun 13, 2022 • 95 Comments From SPAC merger to Chapter 7 bankruptcy in 12 months. That was fast! Congratulations on the speed and on being first!
Treasury Bonds Plunge, Yields Spike amid Stock & Crypto Mess by Wolf Richter • Jun 13, 2022 • 182 Comments Folks looking for yield have options now. Won’t beat inflation, but won’t get their face ripped off either.
Monday is Going to Be Interesting for Stocks by Wolf Richter • Jun 11, 2022 • 387 Comments Still way too much wild craziness, including the ultimate bag-holder gamble: Why the bottom isn’t anywhere near.
False Hopes of Peak CPI Inflation: Prices of Services, Housing, Food, Fuel Spike. Dollar’s Purchasing Power Goes WHOOSH. by Wolf Richter • Jun 10, 2022 • 394 Comments The Fed is going to have a field day with its rate hikes.
