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 • 150 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 • 61 Comments Oh lordy, in a market where nothing can go wrong, Dow falls below January 2018 level.
Businesses in “Critical Distress,” Bankruptcies Surge in the UK by Don Quijones • May 7, 2019 • 21 Comments “Zombie firms,” kept alive by low interest rates, account for up to 14% of UK companies.
Vancouver Housing Bust Steepens, Bank of Canada Welcomes “Froth” Coming Off by Wolf Richter • May 6, 2019 • 46 Comments “It is their interaction with froth that matters most. How much a housing market adjusts depends on how much froth there is”: Poloz
Manufacturing and Services Out of Sync, Not Just in the US by Wolf Richter • May 6, 2019 • 68 Comments Goods producing economy suffers globally. Services expected to keep it all taped together.
