What’s Happening with the Massive Delinquencies of FHA High Risk & Subprime Mortgages Now that Foreclosure Bans Ended? by Wolf Richter • Nov 7, 2021 • 190 Comments 8.5% of FHA mortgages are still seriously delinquent — accounting for half of all seriously delinquent mortgages.
Jobs Data Shows Something Big Changed in this Monstrously Overstimulated Economy by Wolf Richter • Nov 5, 2021 • 306 Comments Record GDP, record consumer spending, record private investment, but the number of workers accomplishing these feats is down by 4.7 million.
Average New-Vehicle Price Spikes 19% in 10 Months, to $44,000. Unit Sales Tick up, But Still Down 34% from March by Wolf Richter • Nov 5, 2021 • 135 Comments Automakers and dealers make enormous record per-vehicle gross profits amid inventory shortages in the craziest market ever.
The Fed Lost Control of the Inflation Narrative by Wolf Richter • Nov 4, 2021 • 247 Comments Mega-policy decisions to boost demand. Now mega-consequences.
Monstrous Money Printer Bank of Japan Stopped Printing Money, Started Unloading Government Securities by Wolf Richter • Nov 3, 2021 • 89 Comments Nikkei 225 is flat with February, when the BoJ started unloading government securities.
Zillow Comes Unglued, Lost $1.4 Billion on Flipping Houses since 2019, Bails Out, Lays Off 25% of Staff, Stock Plunges Further by Wolf Richter • Nov 2, 2021 • 146 Comments Another one of the most hyped Wall Street schemes belly-flops.
The Chilling Things US Manufacturers Said about the Everything Shortage, Demand, Prices, and Supply Chain Chaos by Wolf Richter • Nov 1, 2021 • 158 Comments Can’t meet demand due to shortages of labor, components, and materials. And facing soaring input costs, they’re jacking up prices at record pace.
House Flipper Zillow Seeks to Dump 7,000 Houses to Big Investors after Reports it Overpaid: Buy High, Sell Low, Take “One-Time Noncash Charge?” by Wolf Richter • Nov 1, 2021 • 187 Comments How Zillow helped whip house prices higher and got caught with its pants down (AI = artificial idiocy?).
THE WOLF STREET REPORT: The Fed Lost Control of the Inflation Narrative by Wolf Richter • Oct 31, 2021 • 166 Comments Mega-policy decisions to boost demand. Now mega-consequences.
The Mess of China’s Over-Leveraged Property Developers Spills into California by Wolf Richter • Oct 31, 2021 • 114 Comments Stiffed creditors in China and Singapore seized the halted construction mega-ulcer in San Francisco, the Oceanwide Center.
