More than plenty of supply: 6.3 Months’ unsold inventory of speculative houses.
Airlines, automakers at the forefront. And it has only just begun. EU waives rules banning state aid. Ryanair, which doesn’t need a bailout, is furious.
Airlines don’t expect a quick recovery back to “normal” either. Based on their decisions about aircraft in their fleets, they expect this to drag out for years.
Here come the “bankruptcy-remote special-purpose subsidiaries” and $14.5 billion in rental-vehicle-backed securities. The stock market – other than Carl Icahn – smelled a rat for years.
Here’s the story of two student housing REITs in the UK that crashed.
Holy cow, Los Angeles. The economy is gradually opening up. But the exodus has started hard and heavy. And the influx has stopped.
“The stimulus the country urgently needs is not experimental and dangerous monetary policy.”
How rates soared by state from February to March to April.
Turmoil in the housing market and its impact on the “median price.”
Federal Pandemic Unemployment Assistance (PUA) for gig workers doubles initial claims under state programs. Here are the “Insured Unemployment Rates” for each of the 50 states & DC.
Now at least, price discovery can take place amid a more ample flow of vehicles. But the entire industry dreads a Hertz bankruptcy could cause lenders to liquidate its fleet.
In the forlorn hope the world’s biggest green-energy zombie will somehow survive the oncoming storm.
They have accomplished an amazing feat: losing tons of money year after year during the Good Times in what were profitable industries.
Ecommerce Spikes to Record. Mall Stores Got Hung Out to Dry. Walmart’s Online Sales, Still Woefully Behind, Shot Up 74%
The disaster came in two phases: first, the brick-and-mortar meltdown, then Covid-19.
National sales volumes have been sliding for a few years, but this is like nothing seen in a long time.
The most important source of inbound investment — mainland China — has vanished, with huge ramifications for CRE.
Wayfair, Zillow, Uber, Lyft, WeWork, Carvana, Tesla, Airbnb, Casper Sleep, Zume, and many others – they all have accomplished an amazing feat: losing tons money year after year during the Good Times in mundane profitable industries.
First the Global Financial Crisis, then the Euro Debt Crisis, now the Big One.
Investors bet on this outcome for years. Covid-19 just sped it up by a few months. Department Stores Are Toast.
Years of brick-and-mortar meltdown get compressed into a few months. But ecommerce is booming.
What gave the Fed the “Authority” to do this? Enter the “13(3) facilities.”
The industry exhorts the government to call out “can pay, won’t pay” retailers, many of them global brands that avoid paying rent despite their cash reserves.
“Insured unemployment rate” in California spiked to 27.7%, “continued claims” hit 4.8 million. In terms of “initial claims,” Georgia & Florida move into 1st and 2nd, ahead of California.
YRC, one of the largest less-than-truckload carriers, wheezes under the strain.
The reasons behind the Fed’s No-NIRP stance: It doesn’t work and kills bank stocks. One of the most revealing statements.
Some prices collapsed, others skyrocketed, and the Consumer Price Index went haywire. Here’s what I’m seeing beyond the near term — and it’s not “deflation.”
Big driver behind soaring rents — the “Airbnb effect” that removed countless properties from global cities’ long-term rental markets — reverses.
“The next big shoe to drop will be when appraisers call a declining market in early August.”
Tenants’ collapsing one after the other without replacement has a pernicious impact on property prices.