This Housing Market is Still Frozen by Wolf Richter • Feb 22, 2024 • 173 Comments Median price of existing homes dropped further, high was June 2022, demand collapsed, active listings highest in 4 years, days on market rise.
Japan’s Nikkei 225 Stock Index Hits New All-Time High after 34 Years, Thank You Hallelujah Bank of Japan Money Printing by Wolf Richter • Feb 22, 2024 • 79 Comments But if you invested USD three years ago following Buffett’s hype, you lost 5% because the yen crashed, thank you hallelujah BOJ.
The Fed Wants to Drive QT as Far as Possible Without Blowing Stuff Up, and it’s Working on a Plan: FOMC Minutes by Wolf Richter • Feb 22, 2024 • 121 Comments QT-1 blew up the repo market. This time around, the Fed wants to avoid that type of debacle so it wouldn’t have to “prematurely” end QT-2.
Mortgage Rates Rise Back to 7%, Housing Market Re-Freezes, Buyers’ Strike Continues. Prices Are Just Too High by Wolf Richter • Feb 21, 2024 • 203 Comments Inflation might not go back into the bottle voluntarily, and these mortgage rates – considered low in 1970-2000 – might stick around.
Walmart and Total Ecommerce Sales in the US by Wolf Richter • Feb 20, 2024 • 80 Comments The share of US ecommerce sales in Q4 hit a record, surpassing the crazy days of 2020 for the first time.
Some of the 49 Small Banks Heavily Exposed to Bad Multifamily CRE Loans May Topple, but their Size Limits Contagion: Fitch by Wolf Richter • Feb 19, 2024 • 92 Comments Multifamily lending ballooned 32% from early 2020, powered by low interest rates and soaring rents. Now there’s a price to pay.
Higher for Longer Inflation & Interest Rates Not Over Until the Fat Lady Sings? Waiting for the 2-Year Treasury Yield to Overshoot by Wolf Richter • Feb 18, 2024 • 214 Comments Four decades of history say it’s not over until the 2-year yield overshoots the EFFR. It has undershot for a year, and inflation is taking off again.
PPI Inflation Spikes in Services and Finished Core Goods, Very Disconcerting by Wolf Richter • Feb 16, 2024 • 138 Comments Reheating services inflation isn’t a surprise. But the PPI for finished core goods saps hopes for goods “deflation” to hold down overall inflation.
It Sucks Being a Retailer in January and February. But Do Retail Sales Show Consumers Cut Back? by Wolf Richter • Feb 15, 2024 • 72 Comments A good time to look at seasonality and inflation/deflation in retail sales, especially as prices of goods have dropped.
The Most Splendid Housing Bubbles in Canada: National Price Drops Further in January -18.3% from Peak. End of Easy Money by Wolf Richter • Feb 14, 2024 • 121 Comments Toronto houses -20% from peak, condos drop to 2-year low. Vancouver -8% from peak, Hamilton -25%, Victoria -14%. Calgary set new high.
