Another CRE Giant, Brookfield again, Defaults on Floating-Rate Office Mortgage. Again, CMBS Get this Mess, Not Banks by Wolf Richter • Apr 18, 2023 • 66 Comments Maybe banks, instead of keeping the riskiest CRE loans, securitized them? Would be a hoot to find out over the next few years as this plays out.
The Surge in New Businesses Is One of the Big and Surprisingly Sticky Changes Coming out of the Pandemic Economy by Wolf Richter • Apr 17, 2023 • 91 Comments And yet, the Pandemic Money is long gone.
What Would Happen if the Fed Caves to 4%-5% Core PCE Inflation, Gives up on 2%, as some Folks are Clamoring For? by Wolf Richter • Apr 16, 2023 • 349 Comments The economy would muddle through, but in the markets, all heck would break loose. Here’s why.
The Most Splendid Housing Bubbles in Canada: Spring Selling Season in a Housing Bust by Wolf Richter • Apr 14, 2023 • 128 Comments Prices rose in March, but are down 17.5% year-over-year, the second-worst in the data. Sales -34% year-over-year.
Some Astonishing Trends in Retail Sales beyond the Month-to-Month Data Noise by Wolf Richter • Apr 14, 2023 • 100 Comments Introducing my new retail sales charts of three-month moving averages to iron out the big month-to-month spikes and drops that clutter up the trends.
Turning Point: CPI Used Vehicles Jumps for First Time since July “Not Seasonally Adjusted,” Tracks Wholesale Price Surge with Two-Month Lag by Wolf Richter • Apr 13, 2023 • 96 Comments The historic plunge in used vehicle retail prices from utterly absurd highs may have ended already.
CPI for Services Rages, Durable Goods Prices Rise Again after 6 Months of Declines. Food Inflation Backs Off, Energy Plunges by Wolf Richter • Apr 12, 2023 • 193 Comments Housing inflation is peaking at 8%-plus.
Trouble in Multifamily CRE: Two Big Messes, and Investors Are on the Hook, not Banks by Wolf Richter • Apr 11, 2023 • 118 Comments A REIT specializing in CRE loans foreclosed on 3,200 apartments in Houston. CMBS investors hit by default of 62 multifamily buildings in San Francisco.
Banks and Commercial Real Estate Debt, a Deep Dive: Investors and Government on the Hook for the Majority of CRE Debt by Wolf Richter • Apr 10, 2023 • 95 Comments Retail CRE debt has been crappy since 2017, and banks managed without collapsing. Now Office goes to heck. Multifamily, the biggie, is following.
Apple Mac Shipments Plunge 40% in Q1, Out-Plunging with Ease the Other Big PC Makers by Wolf Richter • Apr 10, 2023 • 119 Comments Hangover-time for PC makers after the explosion of demand during the pandemic.
