The Most Splendid Housing Bubbles in America, February Update: Biggest Price Drops Now in Phoenix, Portland, Las Vegas, San Francisco, Seattle, Denver, San Diego by Wolf Richter • Feb 28, 2023 • 229 Comments Even in Miami and Tampa, prices down for 5th month in a row.
U.S. Electricity Generation by Source in 2022: Natural Gas, Coal, Nuclear, Wind, Hydro, Solar, Geothermal, Biomass, Petroleum by Wolf Richter • Feb 28, 2023 • 226 Comments A record year for power generation, after 14 Years of Stagnation.
Least Geeky Explanation Ever of Differences Between CPI and PCE Price Index which the Fed Uses as Yardstick by Wolf Richter • Feb 27, 2023 • 55 Comments OK, “least geeky ever,” I mean I don’t know that, but you get the idea. Fed governor Jefferson outlines the differences in a lecture at Harvard.
THE WOLF STREET REPORT: Housing Bust #2 Has Begun by Wolf Richter • Feb 26, 2023 • 228 Comments Some markets are already deep into it, others just started. A sobering trip from the free-money decade in la-la-land, back to normal.
People Got Used to Higher Prices and Are Outspending even Raging Inflation. They Don’t Want this Thing to Land by Wolf Richter • Feb 24, 2023 • 261 Comments Year-over-year growth in consumer spending, adjusted for inflation, outpaced pre-pandemic average. Month-over-month, growth spiked.
“Disinflation” Hoopla Sunk by Spiking Prices in January, Upward Revisions for Oct-Dec: Services PCE Price Index Worst since 1984, Goods Jump, “Core PCE” Red-Hot Again by Wolf Richter • Feb 24, 2023 • 181 Comments Inflation Horror Show. The Fed has got a problem on its hands.
As Inflation Spikes to 41-Year High, Bank of Japan Promises to Let her Rip by Wolf Richter • Feb 24, 2023 • 87 Comments A political decision to solve Japan’s horrid fiscal mess by fueling inflation, and forget that 2% target.
Commodities’ Wild Ride: Spikes, Plunges, Re-spikes: Lithium, Lumber, Coal, Wheat, Copper, Steel, Iron Ore, Soybeans, Coffee, Corn by Wolf Richter • Feb 23, 2023 • 93 Comments Oh no, coffee! Commodities are not moving in lockstep.
Spring Selling Season Starts Ominously: Mortgage Applications to Purchase a Home Plunge to Lowest since 1995 by Wolf Richter • Feb 22, 2023 • 188 Comments Prospects of 7% Mortgages Return. Surge in activity in January from very low levels has fizzled.
Mortgage Rates Near 7% for Spring Selling Season: Prices of Existing Homes Fall 13% from Peak, on Lowest Sales since 2010 by Wolf Richter • Feb 21, 2023 • 164 Comments Market is still frozen, potential sellers sit on vacant properties, hoping this too shall pass. Cash Buyers, investors, second-home buyers pull back further.
