Buyers’ Strike Takes Effect: Used-Car Auction Prices Plunge, but Still Sky-High, up Nearly 50% from Three Years Ago by Wolf Richter • Sep 10, 2022 • 147 Comments Totally Crazy Irrational Price Spike of Used Vehicles in Serious Unwind Mode.
What Americans Are Driving: Vehicles in Operation, Used-Vehicle Exports, EVs, and Stuff for Engine Geeks by Wolf Richter • Sep 9, 2022 • 158 Comments No, those used vehicle exports are not all going to Mexico. On the contrary.
Boots-on-the-Ground Observations by 21 Home Builders about the Housing Market They’re Facing by Wolf Richter • Sep 8, 2022 • 120 Comments #Phoenix builder: “The positive is there’s light at the end of the tunnel for improving build cycle times. The negative is there won’t be customers on the other side of said tunnel.”
ECB Shocked, Shocked, to Find that Inflation Is Going on in Here, Hikes by 75 Basis Points, after 50-Basis-Point Hike in July by Wolf Richter • Sep 8, 2022 • 99 Comments Recklessly late, it hiked a lot faster than forecasters even imagined a few months ago: 125 basis points in two meetings and promising more.
Mortgage Lender Woes by Wolf Richter • Sep 7, 2022 • 114 Comments Mortgage volume collapsed. And the stocks of the biggest mortgage lenders collapsed after IPO or SPAC merger.
Bank of Canada Hikes by 75 Basis Points, Brushes Off Housing Woes, Dip in CPI, Slowing Growth by Wolf Richter • Sep 7, 2022 • 63 Comments “Housing market is pulling back as anticipated, following unsustainable growth during the pandemic.”
The Holy-Moly 6.25% Mortgage is Back, Treasury Yields Spike, Summer Bear-Market Rally Unwinds by Wolf Richter • Sep 6, 2022 • 204 Comments In terms of diversification between stocks and bonds, there is none. Not anymore. They even nailed the bear market rally in lockstep.
EV SPAC Faraday Future Breaks the Buck, 14 Months after Going Public. Consensual Hallucination Was so Bad it Was Funny by Wolf Richter • Sep 6, 2022 • 98 Comments Never a boring day in the SPAC & IPO hype-and-hoopla clown show.
By How Much Can the Fed Reduce its Assets with QT? Fed’s Liabilities set a Floor by Wolf Richter • Sep 5, 2022 • 201 Comments The Fed’s big liabilities: reserves, US paper dollars, RRPs, and the US government checking account. Reserves already plunged by $1.03 trillion.
Australia Housing Bust Spreads, Accelerates. Prices in Sydney & Melbourne Fall Below Year-Ago Levels, Sales Plunge by Wolf Richter • Sep 3, 2022 • 154 Comments Biggest monthly drop in national home price index since 1983.