US Home Sales Drop, Drop, Drop Despite Lower Mortgage Rates. But Mortgage Applications Jump. What Gives?

by Wolf Richter • May 21, 2019 • 83 Comments

Where are the foreign investors in this phenomenon?

Jaguar Land Rover Books its Biggest-Ever Annual Loss. Sales Collapse in China

by Don Quijones • May 21, 2019 • 16 Comments

China deliveries in its fiscal year: -34%. And not getting better: in April, -45%.

Deutsche Bank Death Spiral Hits Historic Low. European Banks Get Re-Hammered

by Wolf Richter • May 20, 2019 • 47 Comments

Just bumping along the bottom, from hopeless to hope and back to hopeless.

Carmageddon Sinks Tesla’s Bonds

by Wolf Richter • May 20, 2019 • 91 Comments

Tesla is steeped in chaos — and chaos is absolutely the opposite what a complex manufacturing, distribution, and retail operation needs.

THE WOLF STREET REPORT

by Wolf Richter • May 19, 2019 • 50 Comments

What the Subprime Auto-Loan Fiasco Means.

This Is What Happens When Retailer Asks Landlord for a Rent Reduction

by John McNellis • May 19, 2019 • 35 Comments

The practice of renegotiating rent is older than selling Thanksgiving turkeys as loss leaders, but there is a relatively new, ugly wrinkle to the game.

E-Commerce Crushes Mall Retailers One by One. Here’s the Data

by Wolf Richter • May 18, 2019 • 78 Comments

Brick-and-mortar department stores – the lucky ones still open – are on schedule to be toast.

What Should We Make of the Global Slowdown in Manufacturing?

by Wolf Richter • May 18, 2019 • 7 Comments

The global slowdown in manufacturing and trade is not pretty. How will it impact the US and other major economies? Wolf Richter on This Week in Money.

How Did the US Service Sector Do in Q1?

by Wolf Richter • May 17, 2019 • 45 Comments

Finance & Insurance, Which Dominates the US Economy, Has Blistering Q1. Huge Services Sector Not Yet Hit by Slowdown in Goods.

Vacation Giant & Airline Thomas Cook Verges on Collapse

by Don Quijones • May 17, 2019 • 31 Comments

Citi Group analysts slashed their price target to zero.

Brick & Mortar Meltdown, Manhattan Style

by Wolf Richter • May 16, 2019 • 116 Comments

Retail space asking rents plunge as landlords try to fill scores of vacant shops. Charts by shopping corridor.

UK Banks Double Down on High-Risk Mortgage Products to Prop Up Housing Market

by Don Quijones • May 16, 2019 • 50 Comments

Like the mortgage crisis never happened.

Subprime Bites: Auto-Loan Delinquencies Spike to Q3 2009 Level, Despite Strongest Labor Market in Years

by Wolf Richter • May 15, 2019 • 79 Comments

But what will happen to banks and automakers when the cycle turns?

The Most Splendid Housing Bubbles in Canada Deflate Further

by Wolf Richter • May 15, 2019 • 56 Comments

Vancouver prices drop. Toronto down 3.7% from peak, flat for 10 months. Winnipeg plunges most since at least 1990. Quebec City flat for 6 years.

Trucking & Rail Shipments Sink as US Goods-Based Sector Slows

by Wolf Richter • May 14, 2019 • 77 Comments

Weakness in transportation deepens. Freight rates still rising, but also coming under pressure.

Amazon Butts in on Google-Facebook “Duopoly” in the Huge Business of Internet Advertising. Publishers Hung Out to Dry

by Wolf Richter • May 14, 2019 • 85 Comments

Here are the latest numbers.

After Shares Collapse, Mini Bank-Run Begins as UK Lender Counts Cost of Broken Trust

by Don Quijones • May 13, 2019 • 29 Comments

This time it’s about the safe deposit boxes at Metro Bank.

Nasdaq Drops 6.3% in 6 Days, as Uber & Lyft IPOs Turn into Colossal Flops. S&P 500 Chart Not Pretty

by Wolf Richter • May 13, 2019 • 55 Comments

Russell 2000 back where it had first been in November 2017.

Boeing, Airbus Carve up Embraer & Bombardier, Chinese Aircraft Makers Still Learning the Ropes

by MC01 • May 13, 2019 • 28 Comments

Aircraft manufacturing consolidates.

THE WOLF STREET REPORT

by Wolf Richter • May 12, 2019 • 48 Comments

Why a US-Style Mortgage Crisis Can Happen Anywhere.

QE Party Over, Bank of Japan Stealth-Tapers Further

by Wolf Richter • May 11, 2019 • 54 Comments

Straggler behind the Fed and the ECB gets the drift.

Inflation by City, from Hot to Cool, from San Francisco to Chicago

by Wolf Richter • May 10, 2019 • 87 Comments

Here’s Where Americans Suffer Hot Inflation, But There Are Cool Spots Too

Veil Over Money Laundering in Real Estate Lifted in BC, Canada

by Stephen Punwasi • May 10, 2019 • 39 Comments

“More than C$7 billion in dirty money was laundered in B.C. in 2018, hiking the cost of buying a home by about 5%, according to British Columbia’s Expert Panel on Money Laundering in Real Estate.”

House Flipper Zillow Lost $109K (37%) Per Flip, Net Loss Triples, Shares Soar

by Wolf Richter • May 10, 2019 • 105 Comments

But this new and horrendous house flipping operation inflated revenues “more than expected.”

In July, I Stuck My Neck Out to See a Housing Market Turning Point in San Francisco Bay Area’s Sonoma County: Here’s an Update on My Neck

by Wolf Richter • May 9, 2019 • 45 Comments

Now even the surface of the market has softened, not just the underlying dynamics.

US Senator Aims at Big Gaming, Tries to Ban “Loot Boxes” & “Pay-to-Win,” Puts $50 Billion in Revenues at Risk. Here’s How Gamers Reacted

by Adam Williams • May 9, 2019 • 41 Comments

The reception of the bill has been fascinating.

Fed Launches ‘Rate Peg Instead of QE’ Trial Balloon for Next Crisis

by Wolf Richter • May 8, 2019 • 87 Comments

Wall Street hype artists and QE mongers would be deeply disappointed.

Perhaps It’s Time to Start Worrying About Global Corporate Debt, Suggests Bank of England

by Don Quijones • May 8, 2019 • 18 Comments

Chinese corporate defaults this year through April are 3.4 times the amount last year.

The State of the American Debt Slaves, Q1 2019

by Wolf Richter • May 8, 2019 • 151 Comments

It’s a tough job, but someone’s doing it.

While I Was Away from My Desk, Dow Drops 473 Points

by Wolf Richter • May 7, 2019 • 62 Comments

Oh lordy, in a market where nothing can go wrong, Dow falls below January 2018 level.