Prices of New Houses Drop Further, Builders Stimulate Sales with Price Cuts, Pulling Demand from Previously Owned Homes by Wolf Richter • May 23, 2023 • 121 Comments That arbitrage is now happening among homebuyers. But regular homeowners wanting to sell haven’t figured it out yet.
Rent Inflation Re-Accelerates to Red-Hot, All Three Now Agree: Zillow Asking Rents, What Big Landlords Said, and Actual Rents Tracked by CPI by Wolf Richter • May 22, 2023 • 240 Comments Debacle on the Inflation Front: The Fed’s victory lap about having licked rent inflation was premature.
Meta Fined “Unprecedented” $1.3 billion by EU = 17 Days of Pre-Tax Income, LOL by Wolf Richter • May 22, 2023 • 65 Comments LOLs keep piling up. Cost of doing business. Nevertheless, Meta came out swinging against it.
Faster QT instead of More Rate Hikes to Fight Inflation? Higher Rates Can also Fuel Spending? Are Auto Loans Harder to Get? EVs and the Energy Sector; the Future of Office Towers… by Wolf Richter • May 21, 2023 • 67 Comments Wolf Richter on This Week in Money.
Six-Month Treasury Yield Begins to Price in One More Rate Hike by Wolf Richter • May 20, 2023 • 130 Comments Either mid-June or possibly in July.
Inflation Re-accelerates in Japan, Core CPI Spikes to 41-Year High, even as Energy Plunges. BOJ’s Ueda Vows to Let her Rip by Wolf Richter • May 19, 2023 • 95 Comments Bank of Japan clings to negative interest rate policy and yield curve control as inflation spreads across the economy.
Home Sales Plunge, Supply Rises, Prices Drop Year-over-Year Most since 2012. Even Investors Pull Back by Wolf Richter • May 18, 2023 • 279 Comments Even All-Cash sales plunge 22% as investors don’t feel like overpaying either. The 2023 version of spring selling season is here.
THANK YOU for Your Wonderful Support of WOLF STREET!! If You Missed the Fun Last Week, a Reminder: Please Donate by Wolf Richter • May 17, 2023 • 19 Comments Your donations have been crucial in helping Wolf Street thrive as an open no-paywall site that isn’t bogged down in ads.
Slowdown in Residential Construction Centers on Single-Family Houses. Multifamily Flattens at Highest Level Since 1986 by Wolf Richter • May 17, 2023 • 86 Comments Single-family construction still dominates, but its share of residential construction falls to the lowest in decades.
I’m Surprised How Well Retail Sales Held Up despite Price Drops of Many Goods as Spending & Inflation Shifted to Services by Wolf Richter • May 16, 2023 • 81 Comments Dropping prices cause dollar-sales to drop even if unit sales rise. Home Depot today blamed part of its revenue decline on lower prices.
