Peloton Pukes, Stock Sallies to New Record Low, -97% from Peak by Wolf Richter • Aug 23, 2023 • 138 Comments Consensual Hallucination was so much fun while it lasted.
Home Sales Plunge Further as Demand Vanished at these Prices. Even Cash Buyers Pull Back. Supply Keeps Rising by Wolf Richter • Aug 22, 2023 • 260 Comments Prices drop MoM and from peak (Jun 2022). Days on market jump. Homeowners with 3% mortgages vanish as buyers and sellers, entire market shrank.
Powell’s Inflation Nightmare: Job Seekers, incl. the Employed, Suddenly Expect Massively Higher Wages in Job Offers by Wolf Richter • Aug 21, 2023 • 222 Comments And the offered wages that job seekers actually received also spiked massively as employers comply with a new reality.
How Many Americans Have Interest-Bearing Credit-Card Debt? by Wolf Richter • Aug 19, 2023 • 165 Comments Not everyone has credit cards, and only a portion of those that have credit cards have revolving balances that accrue interest: a stroll through the data.
Defaulted Crossgates Mall CMBS Loans Sold at 69% Below 2012 Appraised Value of the Mall by Wolf Richter • Aug 18, 2023 • 112 Comments CRE debt keeps on giving. Retail CMBS have been a bloodbath for years. Thankfully, banks largely not on the hook.
San Francisco House Prices Plunged Faster (-29%) in 16 Months of Housing Bust 2 than in the First 16 Months of Housing Bust 1 by Wolf Richter • Aug 17, 2023 • 140 Comments But the Bay Area cannot keep up with the spectacular collapse of prices during Housing Bust 1. That had been a doozie.
Ten-Year Treasury Yield Hits 15-Year High, Market Wades out of Denial, Sees “Higher-for-Longer,” Tsunami of Issuance, QT by Wolf Richter • Aug 16, 2023 • 205 Comments “Higher for longer be damned”: consumers and businesses.
UK Services Inflation Spikes to 40-Year High. A Global Phenomenon: All Heck Has Broken Loose in Services by Wolf Richter • Aug 16, 2023 • 56 Comments But motor fuel prices plunge, and inflation in durable goods and food cools – same as everywhere.
The Most Splendid Housing Bubbles in Canada: After a Rocking & Rolling BoC-Pause Season, the First Price Drops Reappear by Wolf Richter • Aug 15, 2023 • 100 Comments Short-term yields spiked, and mortgage rates with them: First results of the Bank of Canada’s unpause on the housing market.
Drunken Sailors Partying Hard: Retail Sales Jump despite Cooling Inflation in Goods that Retailers Sell by Wolf Richter • Aug 15, 2023 • 128 Comments They partied most at Restaurants & Bars, and at ecommerce retailers. If I hear one more time consumers are “tapped out,” I’m going to scream.
