No, Blackstone Didn’t “Buy 17,000 Houses” out from under Desperate Homebuyers. And BlackRock Didn’t “Buy a Whole Neighborhood.” But Built-to-Rent is a Huge Change by Wolf Richter • Jun 22, 2021 • 147 Comments Internet BS made from twisted headlines is fun to spread. But reality is a lot more interesting.
Buyers’ Strike? Sales of “Existing Homes” Sag for 4th Month amid Rising Inventories & Crazy Spiking Prices by Wolf Richter • Jun 22, 2021 • 181 Comments Investors, second-home buyers, vacation-home buyers do some heavy lifting.
Most Important Measure of Fed’s Economy: My “Per-Household Wealth Effect Monitor” for Q1, Based on Fed Data by Wolf Richter • Jun 21, 2021 • 266 Comments How the “Wealth Effect” benefits Americans individually.
Where Shortages Show up: The WTF Plunge in Retail Inventories by Wolf Richter • Jun 21, 2021 • 159 Comments How messed up the economy has become, fueled by government moolah and Fed manna, when nothing and no one was ready for it.
What Powell Also Said at the Press Conference: “Hawkish” Nuances from the Fed by Wolf Richter • Jun 20, 2021 • 145 Comments Modern-hawkish, not Volcker-hawkish.
Is This Inflation Temporary? My Thoughts on the Biggest Mess I’ve Seen in Decades. And other Nuggets of Dispute by Wolf Richter • Jun 19, 2021 • 322 Comments Ah yes, and you’ll hear the first tidbit about the soon-to-be-infamous WOLF STREET beer-mug shortage.
When Fed Doves Turn Hawkish, it Gets Real: Fed Dove Bullard Gets Antsy about Inflation, Pulls Rate Hike into 2022, Sees Quicker Tapering with MBS amid “Threatening Housing Bubble” by Wolf Richter • Jun 18, 2021 • 225 Comments “So far so good. But we have to be nimble here, these are big numbers.”
Holy Moly, Fed’s Reverse Repos Spike to $756 Billion, Undoing 6 Months of QE. In Opposite Direction, Fed’s QE Pushes Assets Past $8 Trillion by Wolf Richter • Jun 17, 2021 • 163 Comments Yesterday, the Fed raised its interest rate on overnight reverse repos, and this morning, a giant sucking sound of cash.
EV SPAC Lordstown Shows Why this Market Needs Short Sellers More than Ever; They’re the Only Sheriff Left in Crazy Town by Wolf Richter • Jun 17, 2021 • 86 Comments Lordstown now says it has “No Binding Orders” after saying it had “Binding Orders,” after admitting it had “No Binding Orders,” after hyping its binding orders for months. Sheesh.
Fed “Had Discussion” on Tapering, Pulls Rate Hikes Closer, Raises Interest Rates on Reserves (IOER) & on Overnight Reverse Repos by Wolf Richter • Jun 16, 2021 • 149 Comments With inflation hotter than it expected, the Fed is trying to slow the pace at which it’s falling further behind.
