Housing Bubble & Bust #1 and #2 as Seen through Employment at Mortgage Lenders and Mortgage Brokers

by Wolf Richter • May 8, 2026 • 6 Comments

Nonbank mortgage lenders shed 40% of their jobs this time, and loan brokers 38%. They react to demand, which collapsed.

Weirdest U.S. Labor Market I’ve Ever Seen: Supply of Labor Shrinks Further while Private-Sector Jobs Grow

by Wolf Richter • May 8, 2026 • 48 Comments

Federal government sheds more jobs, now down to 1966 levels. This labor market isn’t bad, just weird.

Prices of Used EVs Spike, from already Lofty Levels, as Gasoline Prices Spike. But Electricity Prices also Soared

by Wolf Richter • May 7, 2026 • 31 Comments

High gasoline prices tilt operating costs in favor of EVs. But soaring electricity prices eat into that math.

Construction Spending on Data Centers, Factories, Chip Plants, Powerplants, Office Buildings: Boom one End, Bust the Other

by Wolf Richter • May 7, 2026 • 16 Comments

AI investment mania and the second wave of semiconductor plants.

Housing Market’s Crucial “Spring Selling Season” Is in Tatters

by Wolf Richter • May 6, 2026 • 91 Comments

For the 4th year in a row: Normal-ish mortgage rates, too-high prices, and the “lock-in effect” from the Fed’s reckless interest-rate repression.

New Single-Family Home Prices Drop Further amid Inventory Glut. But Lower Prices Beget Higher Sales

by Wolf Richter • May 5, 2026 • 40 Comments

Inventory in the South still sky-high, up 60% from March 2019. But homebuilders understand what it takes: lower prices and big incentives.

Bond Market on Edge: Treasury Yields Spike, 30-Year to 5.03%, Mortgage Rates to 6.52%, as Gulf War Reheats

by Wolf Richter • May 4, 2026 • 98 Comments

Which raises a question: How many more Fed rate cuts would it take in this inflationary era to drive the 30-year Treasury yield to 6%?

The US Government sold $723 billion of Treasury Securities this Week. Inflation Jumped and Met T-bill Yields

by Wolf Richter • May 3, 2026 • 62 Comments

30-year Treasury yield looks like it’s setting up to break out past 5%. A rate cut while inflation is heating up could do it.

Gap between Single-Family Rents & Multifamily Rents Widens to Record as Multifamily under Pressure

by Wolf Richter • May 1, 2026 • 70 Comments

The big divergence of asking rents in 14 big metropolitan areas by single-family rentals and multifamily units.

THANK YOU 💖 for Your Wonderful Support of WOLF STREET!!! If You Missed the Spring Reminder: Please Donate

by Wolf Richter • May 1, 2026 • 5 Comments

Your wonderful support is what keeps Wolf Street open to all, without paywall, to reach the largest possible audience.

Inflation in the Entire US economy Is Rocking and Rolling, and It’s Not Just Energy

by Wolf Richter • Apr 30, 2026 • 140 Comments

The 6-month core services PCE inflation index, accelerating since August, hit 3.7% annualized. Chip prices and software wreak havoc amid consumer electronics.

Without Government Spending & Trade, GDP Rose by 2.5% in Q1, Boosted by AI Investments. Debt-to-GDP Ticks up to 122.6%

by Wolf Richter • Apr 30, 2026 • 20 Comments

Consumer Spending Was OK-ish. Federal government spending spiked back partially after collapsing during the shutdown. Trade worsened.

Regime Change: Powell, Chair of Mega-QE & “Ample Reserves Regime,” to Be Replaced by Warsh, who Wants a Smaller Balance Sheet

by Wolf Richter • Apr 29, 2026 • 31 Comments

But Powell said he’d stay on as governor until “the investigation is well and truly over,” and promised “to keep a low profile” and support the new chair.

This Fed Meeting Must Have Been a Hoot. Fed Holds Rates amid 4 Dissents, most since 1992: 1 Dovish, 3 Hawkish

by Wolf Richter • Apr 29, 2026 • 65 Comments

“Inflation is elevated, in part reflecting the recent increase in global energy prices.” In part. And in part for other reasons.

Housing Unit Growth Far Outruns Population Growth: Vacant Units on the Market and the “Accidental Landlords”

by Wolf Richter • Apr 28, 2026 • 92 Comments

These dynamics are now moving in the right direction.

Two More Imploded Real-Estate Brokerage Stocks Tie the Knot: REMAX -85% from Peak, Real Brokerage -70%

by Wolf Richter • Apr 27, 2026 • 37 Comments

Been brutal for real-estate stocks plunging from overhyped or meme-stock valuations amid thick losses, lots of debt, and a frozen housing market: Compass, Redfin, Anywhere Real Estate, eXp, and Douglas Elliman.

US Government Sold $524 Billion of Treasury Securities this Week. Inflation to Surpass T-Bill Yields. Brutal Bond Math

by Wolf Richter • Apr 25, 2026 • 66 Comments

The effects of Tax Day. The 10-Year Treasury yield rose to 4.31%, 30-Year Treasury yield to 4.91%.

Senate Confirmation of Warsh, who Wants to Reduce the Fed’s Balance Sheet, Gets Unstuck as DOJ Ends Powell Investigation

by Wolf Richter • Apr 24, 2026 • 102 Comments

Even during the Senate hearings, Warsh stuck to his guns: the Fed should have a smaller balance sheet.

Dynamics and Surging Magnitude of US LNG Exports: Started 10 Years Ago in a Glut of Natural Gas that Collapsed the Price

by Wolf Richter • Apr 23, 2026 • 53 Comments

10th liquefaction & export terminal shipped first cargo. List of LNG export terminals, operating and under construction, by in-service date.

Hedge-Fund Meme-Stock Short-Squeeze Queen Avis Budget [CAR] Implodes by 72% in 26 Hours

by Wolf Richter • Apr 23, 2026 • 34 Comments

“Stairs up, express elevator down” as hedge funds sock it to each other.