The Most Splendid Housing Bubbles in America, April Update: Raging Mania on the Eve of the Spike in Mortgage Rates by Wolf Richter • Apr 26, 2022 • 148 Comments At the time rate locks were issued for those deals, mortgage rates were still around 3.2%.
Sales of New Houses Sag, Inventory Piles Up to Highest since 2008, as Mortgage Rates Spike. Homebuilder Costs Explode amid Shortages of All Kinds by Wolf Richter • Apr 26, 2022 • 141 Comments Builders have abandoned the market below $300,000.
Deep-Junk-Rated Carvana Gets $4.5 Billion from New Investors, after Shares Collapsed by 79%, Hoping the World Hasn’t Run out of Greater Fools Yet by Wolf Richter • Apr 25, 2022 • 88 Comments The cash-burn machine needs new fuel.
Stock Markets in China & Honk Kong Dive, Yuan Slides, Crude Oil Drops on Confidence Crisis in China by Wolf Richter • Apr 25, 2022 • 124 Comments The Shanghai Composite and Hang Seng fall to where they’d first been in 2007 during the run-up of the bubble.
Dear Readers, Please Donate to Support WOLF STREET: Spring Reminder by Wolf Richter • Apr 24, 2022 • 65 Comments I love what I’m doing, and your donations are hugely important.
Now Alphabet Breaks, Microsoft too, Meta Already in Free-Fall: One by one, the Giant Stocks that Held Up the Market Let Go by Wolf Richter • Apr 22, 2022 • 269 Comments Ugly Day. But I’m more and more amazed how Microsoft’s CEO picked the very peak to dump half his shares last November.
Tightening Comes Even to Ridiculous ECB Sooner, Faster as Seven EU Countries Hit by 10%-16% Inflation, Four by over 9% by Wolf Richter • Apr 22, 2022 • 133 Comments The ECB created the greatest corporate bond bubble ever. Now junk bonds get crushed, yields already doubled, set to double again, and again, cleansing out the zombies.
Peak Balance Sheet: Fed’s Assets Dip to Level of 5 Weeks Ago. End of QE, End of an Era by Wolf Richter • Apr 21, 2022 • 249 Comments Markets already started to kiss that easy money goodbye.
The Most Splendid Housing Bubbles in Canada, April Update, as Yields Spike & Bank of Canada Hikes by Wolf Richter • Apr 21, 2022 • 78 Comments But wait… Many home buyers had mortgage rates that were guaranteed when rates were much lower.
I Now Have to Add Netflix to my “Imploded Stocks” by Wolf Richter • Apr 20, 2022 • 219 Comments Shares collapsed by 68% since November. $205 billion evaporated. FANGMA without the N.
