Subprime Auto-Loan Delinquencies Hit Record, Prime Loans Are Pristine, after Easy Money Ends: The High-Risk High-Profit Business of Subprime Auto Lending by Wolf Richter • Oct 22, 2023 • 110 Comments What makes it work: Securitizing subprime auto loans and selling the Asset-Backed Securities to yield-hungry investors.
Why Longer-Dated Treasury Yields Spiked. It’s Not Magic: Yield Solves All Demand Problems by Wolf Richter • Oct 20, 2023 • 254 Comments Tsunami of issuance meets Fed QT, Skittish Foreign Buyers, and US buyers demanding to be compensated for the risks of out-of-control deficits in an inflationary environment.
Home Prices Fall Further. Peak was June 2022. Demand Crashes, Price Cuts Jump, Supply & Days on Market Rise by Wolf Richter • Oct 19, 2023 • 228 Comments NAR, the Realtor lobbying group, demands its easy-money heroin back that the Fed has confiscated.
My Favorite Recession Indicator: No Recession in Sight Yet by Wolf Richter • Oct 19, 2023 • 129 Comments There will be a recession someday, there’s always one eventually. But not yet.
30-Year Treasury Yield Spikes past 5%, 30-year mortgage rates hit 8%, Mortgage Applications Plunge by Wolf Richter • Oct 18, 2023 • 231 Comments Bond Bloodbath, Housing Market in Deep-Freeze, as delusions fade.
“Rent” Inflation in Canada Spikes to Highest since 1983, amid Spike in Population. Homeownership CPI Remains Red-Hot by Wolf Richter • Oct 18, 2023 • 76 Comments Prices eased in other categories.
Our Drunken Sailors Now Guzzling Directly from Punch Bowl: Powell, You Looking? Splurging Online, at Restaurants & Auto Dealers. YOLO by Wolf Richter • Oct 17, 2023 • 148 Comments Consumers still on a buying binge at retailers, fired up by big income increases that this year outran goods-inflation by a wide margin.
End of Free Money Plunges German Construction Industry into Crisis by Wolf Richter • Oct 16, 2023 • 122 Comments A black swan of sorts no one was ready for: Negative interest rates turned positive, and all heck broke loose in the property development sector.
The Most Splendid Housing Bubbles in Canada: Prices Drop Further as Sales Slow and New Listings Jump Further by Wolf Richter • Oct 14, 2023 • 162 Comments The Home Price Benchmark Index is down 14% from peak in March 2022, Toronto down 15%, after wild and woolly sucker rally over the spring.
Acceleration of Inflation Continues, Core Services Inflation Spikes despite the Massive Health-Insurance Adjustment by Wolf Richter • Oct 12, 2023 • 266 Comments This was the last of 12 health insurance adjustments that pushed down core CPI and core services CPI; it will swing the other way next month.
