Home Sales Whacked by Mortgage Rates. Active Listings & Price Reductions Jump to Highest in Years. But Sales of High-End Homes Surge by Wolf Richter • May 22, 2024 • 107 Comments This surge in sales of high-end homes changed the mix and thereby skewed the median price.
New-Vehicle Supply Turns to Glut for Many Brands. Automakers Roll out Incentives, but Not Nearly Enough by Wolf Richter • May 21, 2024 • 141 Comments Inventory gluts are resolved by lower prices that boost sales. But that part hasn’t started yet; the glut is still building.
How Home Purchases and Rentals Are Key to Bringing Down Inflation: Fed Vice Chair Jefferson Explains by Wolf Richter • May 20, 2024 • 307 Comments Fascinating: “Prices that families pay” when they buy homes “can affect their overall well-being.”
Dear Readers, Please Donate to WOLF STREET: Spring 2024 Reminder by Wolf Richter • May 19, 2024 • 55 Comments Thanks to your generous support, WOLF STREET has been free and open to all, not hidden behind a paywall.
Subprime Auto Loans Are Getting Messy by Wolf Richter • May 18, 2024 • 69 Comments Huge profits in subprime caused specialized dealers/lenders to take big risks, which came home to roost. But prime auto loans are in pristine shape
As Rest of Retail Stagnates, Ecommerce is Hot. And what Walmart Said about this Phenomenon by Wolf Richter • May 17, 2024 • 105 Comments Walmart US online sales +22%. It credits “convenience” of ecommerce for its success in attracting higher income customers.
Who Fell Behind on their Credit Cards: Delinquencies, Balances, Burden, Available Credit, and the “Maxed Out” by Wolf Richter • May 16, 2024 • 99 Comments Only 18% of credit-card holders maxed out their cards, less than before the pandemic, but fell behind at a higher rate.
The Most Splendid Housing Bubbles in Canada: Spring Rally Fizzles, Prices -14% from Peak in Feb 2022, Below Sep 2021 by Wolf Richter • May 16, 2024 • 75 Comments New listings rise, inventory does 2nd biggest jump on record. Toronto prices -15% from peak, but Vancouver only -3.4%, Calgary sets new high.
Beneath the Skin of CPI Inflation, April: After Some Zigs, a Zag. But 6-Month Core CPI Hits 4.0%, 6-Month Core Services CPI Hits 6.0%, Both Highest since mid-2023 by Wolf Richter • May 15, 2024 • 118 Comments Month-to-month data is volatile. We’ll look at the trends.
Here Come the HELOCs in Household Debt: Mortgages, Delinquencies, and Foreclosures by Wolf Richter • May 15, 2024 • 116 Comments If residential mortgages get messy, banks are largely off the hook this time.
