“Housing Recession”: Sales Plunge to Lockdown Levels, Active Listings Surge, Prices Begin to Dip as Price Reductions Spike, Investors Pull Back by Wolf Richter • Aug 18, 2022 • 196 Comments Buyers moseyed away from sky-high prices but are still there, just a lot lower, while many sellers hang on to illusions.
Craigslist Cuts Asking Price of Class A Office Building it Owns in San Francisco by 40%. The Building is 78% Vacant by Wolf Richter • Aug 17, 2022 • 92 Comments Last time it tried to sell the building was in 2019. Now the office market is an entirely different ballgame.
Ecommerce Sales Spike to Record. Retail Sales ex Gas Stations, ex Auto Dealers Jump to Record. Plunging Price of Gasoline & Shortage of New Vehicles Dog those Retailers by Wolf Richter • Aug 17, 2022 • 97 Comments No, consumers didn’t suddenly flock back to the mall. That was just a media joke. They bought online more than ever. Sales at department stores fell.
Another Collapsed SPAC, Lottery.com, Discloses WTF Horror List and Says it Will Liquidate Unless Miracle Happens by Wolf Richter • Aug 16, 2022 • 124 Comments The years 2020 and 2021 will go down as the greatest era ever of consensual hallucination and financial gangsterism.
Boom & Bust Cycles: Construction Starts of Single-Family Houses v. Multifamily Buildings by Wolf Richter • Aug 16, 2022 • 53 Comments Starts: Single-family houses: -18.8% year-over-year; larger multifamily buildings: +15.9%. Here are the long-term trends.
Compass Prepares for 25% Downturn in Housing Market, Plans Serious Cost Cutting, Pukes All Over the Place by Wolf Richter • Aug 15, 2022 • 117 Comments Because suddenly the SoftBank-backed company, which blew $1.73 billion since 2017, is running out of runway.
“Housing Recession”: NAHB. Homebuilders Cut Prices as Traffic of Prospective New-House Buyers Plunges, Cancellations Spike by Wolf Richter • Aug 15, 2022 • 141 Comments Homebuilder sentiment dives 8th month in a row, their stocks are down 19% to 36% YTD despite blistering summer rally.
New Vehicle Inventory Dips, Near Record Low. Fuel-Efficient Cars Vanish. But Supply of Full-size Pickups & SUVs Rises, Discounting Sets in to Move the Iron by Wolf Richter • Aug 13, 2022 • 193 Comments Average prices jump relentlessly from record to record.
Mopping up Mess from SPAC Mania: After Imploding, Shift Technologies (-92%) and CarLotz (-95%) Merge into One Zombie to Burn Remaining Cash Together by Wolf Richter • Aug 12, 2022 • 109 Comments Charts of stocks like these – hundreds of them now – are an indictment of the mania in 2020 & 2021. We’ll be shaking our heads for years.
The WOLF STREET Mugs Have Finally Arrived: If You’re on the “Mug List,” Please Read This by Wolf Richter • Aug 12, 2022 • 32 Comments If your address changed since getting on the Mug List, please let me know by email. The mugs start going out this weekend.
