Prices of Existing Homes in Germany Tank 14% so far, as ECB-Fueled Housing Bubble Turns into Housing Bust by Wolf Richter • Mar 22, 2024 • 112 Comments Germany is an example of what interest-rate repression and QE do to home prices, and what happens when inflation causes those policies to be reversed.
Amid Weak Demand for Existing Homes, Active Listings & Price Reductions Jump, Listing Prices Weaken by Wolf Richter • Mar 21, 2024 • 117 Comments “Many potential buyers are postponing their purchasing plans in hopes of securing lower rates. Consequently, lower buyer competitions exerted downward pressure on prices”: Realtor.com
What Powell Said About Slowing the Pace of QT: “By Going Slower, You Can Get Farther” by Wolf Richter • Mar 20, 2024 • 158 Comments They learned a lesson from the mess in 2019, which Powell referred to several times.
Fed Still Sees 3 Rate Cuts in 2024, But 2-Cut Scenario only 1 Participant Short, Holds Rates at 5.50% Top of Range, QT Continues as Planned by Wolf Richter • Mar 20, 2024 • 208 Comments Raises longer-run rate projection (higher for longer), and projections for inflation and GDP in 2024.
Intel to Get $23 Billion in Government Grants & Loans Plus $25 Billion Investment Tax Credits, to Invest $100 Billion in the US, after Wasting $94 Billion on Share Buybacks in 15 Years by Wolf Richter • Mar 20, 2024 • 91 Comments Sure, good industrial and security policy to put semiconductor production on US soil. But these massive government handouts to the richest companies?
Bank of Japan Keeps Making its Loosest-Ever Monetary Policy Slightly Less Loose in Tiny Steps at Slowest-Ever Snail’s Pace by Wolf Richter • Mar 19, 2024 • 85 Comments Which devalued the yen by a Third-Worldish 30% against the USD in two years as other central banks hiked in big increments and started QT.
The Most Splendid Housing Bubbles in Canada: National House Prices Flat in Feb., -16% from Peak, Condos Drop Further, on Bank of Canada’s 5% & Massive QT by Wolf Richter • Mar 18, 2024 • 65 Comments Toronto condos drop to 28-month low, Vancouver houses -4% from peak in 2022 but condos near high. Calgary houses set new highs.
Brick-and-Mortar Meltdown Fells another Retailer: Joann Inc. Files for Bankruptcy 3 Years after IPO by Wolf Richter • Mar 18, 2024 • 96 Comments The IPO allowed the PE firm that had acquired Joann via an LBO in 2010 to dump the shares into the lap of the public.
Who’s on the Hook for Multifamily CRE Mortgages? #1 Taxpayers, far ahead of #2 Banks by Wolf Richter • Mar 18, 2024 • 94 Comments Another reason why the Fed can let the CRE swoon rip.
Short-Term Treasury Market Walks Away from Rate-Cut Mania, Inflation Has Upper Hand by Wolf Richter • Mar 15, 2024 • 231 Comments One-year yield rose to 5.05% today, highest since December 12.
