The Most Splendid Housing Bubbles in America: December Update on House Price Inflation Gone Wild by Wolf Richter • Dec 29, 2020 • 211 Comments The dollar lost purchasing power with regards to houses at the fastest rate in six years.
Flying During Christmas Travel Period? Still in Collapse Mode by Wolf Richter • Dec 28, 2020 • 147 Comments But don’t fear for airline shareholders & creditors; they get to benefit from another $15 billion via “Taxpayer Capitalism.”
THE WOLF STREET REPORT: American Debt Slaves in the Weirdest Economy Ever by Wolf Richter • Dec 27, 2020 • 196 Comments During the Financial Crisis, consumers deleveraged by walking away from their debts. And now, with 20 million people still claiming unemployment insurance?
What an Ugly Year for Manhattan Luxury Condos & Co-ops, But the Market Came Unglued in 2016 by Wolf Richter • Dec 25, 2020 • 172 Comments “It was more drama than any market could withstand as Manhattan sellers started slashing prices.”
Railroads Slashed Jobs Again in Nov, to Lowest in Many Decades, Traffic Down 17% since 2006, Stocks Soared to Record High by Wolf Richter • Dec 24, 2020 • 74 Comments Railroads responded to structural challenges by slashing jobs. Did nothing for volume but did everything for their stocks.
Majestic Overshoot of Stimulus Money Ended. Faced with Second Wave, Americans Cut Back, Even on Durable Goods by Wolf Richter • Dec 23, 2020 • 187 Comments Consumers still earned more in November than in the Good Times, but a lot less than back when free Pandemic-money was massively hailing down.
Housing Market Goes Crazy, Everyone Sees It Can’t Last, and then the First Dip Appears by Wolf Richter • Dec 22, 2020 • 235 Comments There is already a sudden and historic housing glut in San Francisco.
Another Piece of the Puzzle of Plunging Credit Card Balances by Wolf Richter • Dec 21, 2020 • 161 Comments Consumers cut back on applying for credit cards, and the Fed is not amused.
Holy-Cow Spikes in China-US Container Freight Rates & US Consumer Spending on Goods Trigger Mad, Possibly Illegal Scramble for Empties. US Farmers Twist in the Wind by Wolf Richter • Dec 20, 2020 • 135 Comments US Federal Maritime Commission investigates container carriers’ “abandonment” of American agricultural industry. Weirdest Economy Ever.
Who Holds the $1.65 Trillion of Apartment Building Debt amid Eviction Bans and Plunging Occupancy Rates at High Rises? by Wolf Richter • Dec 18, 2020 • 186 Comments You guessed it: For over half of it, taxpayers are on the hook. Time to take a look.
