Do We Really Need More Stimulus to Print More Millionaires & Billionaires, Enrich Fraudsters, Balloon the Trade Deficit? Consumer Data Says, “No We Don’t” by Wolf Richter • Oct 30, 2020 • 203 Comments People who need support, should get support. As for the rest? On my soapbox, wildly wagging consumer income and spending data.
I’m in Awe of How Fast Rents Plunge in San Francisco, New York, Boston, Los Angeles, Other Expensive Cities. Rents Decline Even in Houston & Dallas. National Average Turns Negative by Wolf Richter • Oct 30, 2020 • 140 Comments Work-from-anywhere, unemployment crisis, oil bust, people chasing a cheaper less crowded place to live, the land rush to buy homes.
No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP by Wolf Richter • Oct 29, 2020 • 67 Comments GDP back to Q1 2018. Worst ever “net exports.” The decline in government spending was also a drag. “GDP per Capita” bounced back only to 2017 level.
Unlocked Shareholder Value, so to Speak: Job Cuts at Boeing to Reach 30,000. Commercial Airplane Revenue -56%. $5 Billion Go Up in Flames in Q3, $22 Billion since 737 Max Fiasco. by Wolf Richter • Oct 28, 2020 • 119 Comments $43 billion incinerated on Share Buybacks since 2012 to manipulate up the share price would come in handy now. Shares -60% since June 2019.
Americans Are Super-Gloomy About Holiday Spending, But Industry Ramps Up for Blockbuster Christmas by Wolf Richter • Oct 27, 2020 • 183 Comments Something is afoot here. And someone is going to be wrong.
Jingle Mail Haunts Commercial Mortgage-Backed Securities as Property Values Get Slashed Below Loan Amounts by Wolf Richter • Oct 26, 2020 • 125 Comments At the time of securitization into CMBS a few years ago, inflated collateral values led to soothingly low loan-to-value ratios. Then trouble hit.
How Fast Can a “Shortage” of Office Space Turn into a “Glut?” San Francisco Shows How Fast by Wolf Richter • Oct 25, 2020 • 104 Comments Commercial real estate is in turmoil, but San Francisco’s glut is dwarfed by the fiascos in Houston and Calgary.
Housing Market Goes Nuts, Everyone Sees it, But it Can’t Last by Wolf Richter • Oct 23, 2020 • 307 Comments There’s a housing shortage until there’s suddenly a housing glut: see San Francisco et al.
Fed Assets Eke Out New Record for First Time Since June 10. But Repos, Dollar Liquidity Swaps, SPVs Mothballed by Wolf Richter • Oct 22, 2020 • 65 Comments Only Treasury securities and mortgage-backed securities (MBS) are still active.
Sorting through the Data Chaos in Unemployment Claims: Week 31 of U.S. Labor Market Collapse by Wolf Richter • Oct 22, 2020 • 59 Comments California Emerged from its “Reset.”
