The Most Splendid Housing Bubbles in America: Price Drops Spread across US. Steepest Monthly Plunges since Housing Bust 1 in San Francisco -3.5%, Seattle -3.1%, San Diego -2.5% by Wolf Richter • Sep 27, 2022 • 204 Comments The Case-Shiller index, which lags by several months, is starting to flip market by market, including in Phoenix, Dallas, Washington DC, and Boston.
My “Wealth Disparity Monitor”: QT, Rate Hikes, Dropping Stocks & Bonds Reduce Outrageous US Wealth Disparity by Wolf Richter • Sep 26, 2022 • 293 Comments Wealth of the “Top 0.1%” drops by $12 million per household; the wealth of the “Bottom 50%,” who have nearly nothing, rises.
UK Bond Yields Do Monster Spike, Pound Plunges as Bond Vigilantes Rise from Graves, Go after Government’s Fiscal Recklessness by Wolf Richter • Sep 26, 2022 • 127 Comments Bank of England: won’t “hesitate” to hike rates “as much as needed.” Bond market fears much higher inflation and interest rates, for much longer.
The Bear-Market Rally in Stocks, Bonds, Mortgages Wiped Out: Why This Nails the Parallel to the Dotcom Bust by Wolf Richter • Sep 25, 2022 • 336 Comments But this time, there’s over 8% inflation.
To Compete with Spiking Treasury Yields, Banks Now Offer 4%+ on “Brokered” CDs of 6 Months to 5 Years by Wolf Richter • Sep 23, 2022 • 210 Comments Holy-moly mortgage rates close in on 7%.
This Inflation Will Be Tough to Get under Control by Wolf Richter • Sep 22, 2022 • 275 Comments It’s like a dam broke. And now higher interest rates and mortgage rates for much longer, with lower asset prices, as the Everything Bubble gets repriced.
The Most Splendid Housing Bubbles in Canada, September Update: House Prices Plunge by Wolf Richter • Sep 22, 2022 • 109 Comments The ridiculous price spikes now face Bank of Canada’s monster rate hikes, QT, and spiking mortgage rates.
Powell’s Whatever-it-Takes Moment: Policy “WILL Be Enough to Restore Price Stability.” Fed Hikes by 75 Basis Points. Shocker, Sees 4.4% by End of 2022 by Wolf Richter • Sep 21, 2022 • 286 Comments “Housing market will have to go through a correction … to where people can afford housing again”: Powell
Housing Bubble Woes: Home Prices Drop 3.5%, Steepest Monthly Drop since Jan. 2016. Sales, already at Lockdown Levels, Drop Further. Active Listings Rise Further by Wolf Richter • Sep 21, 2022 • 141 Comments But these sales happened during the “Fed pivot” fantasy that pushed mortgage rates down to 5%. Now mortgage rates are near 6.5%.
Even in Japan, Inflation Begins to Rage after 23 Years of True Price Stability by Wolf Richter • Sep 20, 2022 • 54 Comments Bank of Japan lets yen go to heck, trade deficit blows out, costs surge for manufacturers, prices surge for consumers.
