Here Come the HELOCs: Mortgages, Housing-Debt-to-Income-Ratio, Serious Delinquencies, and Foreclosures in Q3 2025 by Wolf Richter • Nov 7, 2025 • 13 Comments Banks are mostly off the hook this time; risks were shifted to taxpayers and investors.
Fed Balance Sheet QT: -$14 Billion in October, -$2.39 Trillion from Peak, to $6.57 Trillion, Standing Repo Facility Back to Zero by Wolf Richter • Nov 6, 2025 • 45 Comments The SRF did its job. Month-end repo market turmoil, exacerbated by effects of the government shutdown, has settled down.
CarMax Enters our Imploded Stocks. Used-Car Dealers Face Reckoning after Jacking Up Prices by 55% in 2 Years by Wolf Richter • Nov 6, 2025 • 61 Comments Consumers have had it with high prices. In addition, these dealers have company specific issues.
Household Debts, Debt-to-Income Ratio, Delinquencies, Collections, Foreclosures, and Bankruptcies of our (not so) Drunken Sailors in Q3 2025 by Wolf Richter • Nov 5, 2025 • 72 Comments The long-defaulted federal student loans were pulled out of the forbearance closet.
Private-Sector Job Growth Lumbers Along after Getting Hammered by the 2024 Benchmark Adjustments in Sep & Aug by Wolf Richter • Nov 5, 2025 • 44 Comments ADP Employment Report: +42,000 Jobs in October; wages +4.5% for “Job Stayers” and +6.7% for “Job Changers.”
Repo Market Liquidity Pressures Made Worse by Government Shutdown, but the Fed’s SRF Did its Job and Went Back to Sleep by Wolf Richter • Nov 4, 2025 • 42 Comments After the debt ceiling, the shutdown: government checking account (TGA) sucks up $700 billion in four months.
US Government’s Net Cash from Tariffs Jumps to Record $32 Billion in October by Wolf Richter • Nov 3, 2025 • 76 Comments The Supreme Court could strike down a portion of the tariffs, but the Administration sees similar tariffs under different Acts. “You should assume they’re here to stay”: Bessent.
Who Takes the Losses on Office CRE? Here’s an Example: the Bankruptcy of Office Properties Income Trust by Wolf Richter • Nov 3, 2025 • 25 Comments Shareholders got wiped out, noteholders take losses and get the company, banks appear to be largely unscathed.
Dear Readers, Please Donate to WOLF STREET: Fall 2025 Reminder by Wolf Richter • Nov 2, 2025 • 25 Comments Your generous support allows WOLF STREET to remain free and open to all, not hidden behind a paywall.
Office CMBS Delinquency Rate Hits Record 11.8%, Much Worse than Financial Crisis. Multifamily Delinquencies Soar to 7.1% by Wolf Richter • Nov 1, 2025 • 74 Comments Commercial real estate (CRE) loans on office and multifamily properties got further bludgeoned in October.
