Average Age of Cars & Trucks in Operation Rises to Record, as New Vehicle Sales & Miles Driven Plunged by Wolf Richter • May 23, 2022 • 79 Comments Scrappage rate dropped to lowest in two decades, as used vehicle prices spiked the most ever.
Economical Cars, Hybrids, Small SUVs Suddenly Hot, Inventories Depleted. But Supply of Trucks & Full-Size SUVs Rises by Wolf Richter • May 22, 2022 • 147 Comments Funny how that works when gasoline prices spike.
That Drop in Used Vehicle Wholesale Prices Already Fizzled. Prices Rise Again. Dealer Listing Prices Hit Record $28,365 by Wolf Richter • May 21, 2022 • 135 Comments Buyers’ revolt, sales plunge 19%. But dealers, sitting on high-priced inventory, resist price cuts, which would boost sales.
Inflation Comes to Japan, amid Plunging Yen, Inflation Subsidies. Bank of Japan Blows it Off as “Transitory,” Throws Yen under Bus by Wolf Richter • May 20, 2022 • 141 Comments The Japanese people are not amused.
Who Bought the Incredibly Spiking US Government Debt, Now $30.4 Trillion in Treasury Securities? by Wolf Richter • May 19, 2022 • 138 Comments A red-hot question in our iffy times.
As Supply Rises & Mortgage Rates Spike, US Home Sales Fall to Lowest since June 2020, Plunge in California’s Coastal Metros by Wolf Richter • May 19, 2022 • 116 Comments Sales at the Top are strong. Bottom falls out in rest of market. “Rising interest rates and higher home prices depressed housing demand.”
Bad Breath of Inflation Sinks Target, Walmart, Other Retailers on Surging Costs of Products, Labor, and Transportation by Wolf Richter • May 18, 2022 • 124 Comments Not a revenue-shocker (they were up even from stimulus-miracle a year ago), but a cost-shocker. Unable to pass on all the cost increases, their margins got squeezed.
Housing Bubble Getting Ready to Pop: Mortgage Applications Plunge amid Holy-Moly Mortgage Rates, Croaking Stocks, Ridiculous Home Prices by Wolf Richter • May 18, 2022 • 263 Comments “Recent stock market volatility” catches some of the blame.
Americans Are in a Sour Mood, But it Didn’t Dampen their Spending: Splurging at Retailers, Especially Some Retailers by Wolf Richter • May 17, 2022 • 191 Comments Retail Therapy at Bars & Restaurants, Cannabis Stores, and Ecommerce? Other retailers not so lucky.
Gasoline Spikes to Record $4.49, Just in Time for Summer Driving Season. Crude Oil Jumps. Not going to Help CPI in May by Wolf Richter • May 16, 2022 • 194 Comments Make that $6.55 for regular at my San Francisco gas station from heck.
