Small Landlords, Tenants, Lenders, Governments Grapple with “Extend-and-Pretend Forevermore” by Nick Corbishley • Aug 26, 2020 • 70 Comments Most of the fallout from the Pandemic has been postponed in the UK. But then what?
“Pent-up Supply” in San Francisco Turns into Record Glut of Houses & Condos for Sale. Prices Weaken by Wolf Richter • Aug 25, 2020 • 203 Comments Why is everyone suddenly trying to sell their home?
Jingle Mail for Malls: Even Biggest Landlords Walk from Malls as Stores Go Bankrupt, Refuse to Pay Rent, Mall Values Slashed Brutally. But those Shorting Mall CMBS Made a Killing by Wolf Richter • Aug 24, 2020 • 158 Comments Mall meltdown gets messier. But someone’s making money. Here’s how they shorted malls.
THE WOLF STREET REPORT: The Zombie Companies Are Coming by Wolf Richter • Aug 23, 2020 • 90 Comments “Easy money is a curse for capitalism.”
Haunting Photos of San Francisco’s Desolate Financial District During Morning “Rush Hour”: Visual Effects of Work-from-Home by Wolf Richter • Aug 22, 2020 • 318 Comments I’m standing in the middle of the street to take this photo. Why? Because I can.
Shell’s Colossal Miscalculation in 2011 of Today’s LNG Price: Largest-Ever $12-$17-Billion “Floating Facility” Shut Down, Months After Shipping First LNG. Done in by Long Price Collapse by Wolf Richter • Aug 21, 2020 • 57 Comments Designed to profit from sky-high LNG Prices in Japan. Sunk by surging US LNG Exports, multi-year collapse in LNG prices, global LNG glut.
Australia’s Construction Industry Faces “Bloodbath,” Says Lobbying Group Clamoring for Bailout, after Riding up the Housing Bubble by Nick Corbishley • Aug 21, 2020 • 64 Comments Alas, the housing construction bubble burst long before the Pandemic.
The Fed’s Asset Purchases: Week 10 Since Peak-QE by Wolf Richter • Aug 20, 2020 • 68 Comments Crazy charts to document our crazy times.
Disconcertingly, Both State & Federal “Initial” Unemployment Claims Jump. 28 Million People on Unemployment Insurance, 17.5% of Labor Force: Week 22 of U.S. Labor Market Collapse by Wolf Richter • Aug 20, 2020 • 105 Comments Number of people who newly lost their work and filed for initial state or federal UI in the week jumped to 1.43 million. A rate of 6 million a month.
California Cannabis Tax Revenues Soar as Industry Gets Going, But Black Market Still Dominates by Wolf Richter • Aug 19, 2020 • 70 Comments Growth during the Pandemic. And the state sure needs the money.