The Most Splendid Housing Bubbles in America, June Update: 2nd Overall YoY Price Drop since 2012. Biggest in Seattle, San Francisco, Las Vegas, Phoenix, San Diego, Portland, Dallas… by Wolf Richter • Jun 27, 2023 • 164 Comments It’s spring selling season, when prices always rise month-to-month, and they did, but it wasn’t enough.
As Prices of New Houses Drop, Sales Jump: Cut the Price and They Will Come. by Wolf Richter • Jun 27, 2023 • 134 Comments Price cuts & mortgage-rate buydowns pull sales from previously owned homes.
Longer-Term Treasury Yields to Rise amid Flood of Issuance while Fed, Foreign Buyers, US Banks Unload. Short-Term Yields already Surged by Wolf Richter • Jun 26, 2023 • 179 Comments What the Fed wanted to accomplish. But the bond market hasn’t been playing along and “is too complacent” about the coming onslaught.
THE WOLF STREET REPORT: Revenge of Variable-Rate Commercial Debts by Wolf Richter • Jun 24, 2023 • 160 Comments Most people in finance today cut their teeth in the era of Easy Money, when history books were thrown out the window.
Core CPI in Japan Worst since 1981. Food Inflation Worst since 1976. But Energy Prices Plunge by Wolf Richter • Jun 23, 2023 • 86 Comments BOJ’s Ueda promises to fuel inflation further, hopes for wage growth. Strategy: let raging inflation bring Japan’s debt-to-GDP ratio back in line.
How Can a Company Lose $3.3 Billion on $402 Million in Sales? Cannabis Companies Show How as Shares Get Wiped Out by Wolf Richter • Jun 22, 2023 • 131 Comments It just never ends with these hype-and-hoopla stocks. And when one wave finally dies, there’s something new. This stuff is just hilarious.
Home Prices Drop Year-over-Year by Most since 2011, as Investors Pull Back, amid Dismal Sales and Rising Supply by Wolf Richter • Jun 22, 2023 • 206 Comments June (next month’s data) will be the final leg of spring selling season. Then things skid downhill till early 2024.
Inflation Shocker in the UK: Core CPI Spikes to 30-Year High, Driven by Spike in Services, even as Motor Fuel Prices Plunge by Wolf Richter • Jun 21, 2023 • 137 Comments Bond yields jump as they begin to price in more BOE rate hikes, and higher for longer than previously imagined.
Not a Recession Scenario: Multifamily Construction Starts Spike to Highest since 1986, Single-Family Starts Bounce by Wolf Richter • Jun 20, 2023 • 204 Comments Another sign the economy is flying a cruising altitude and refuses to land, even with short-term interest rates over 5%.
Why a “Pause” Points to Higher for Much Longer. CRE Blowups & Banks. CRE & the Housing Market. What’s the Deal with Inflation? And of course, New & Used Cars by Wolf Richter • Jun 19, 2023 • 129 Comments Wolf Richter on This Week in Money.
