Catastrophic Plunge in Jobs & Labor Force in Los Angeles, San Francisco/Silicon Valley Smacks into Housing Bubbles by Wolf Richter • May 22, 2020 • 284 Comments Holy cow, Los Angeles. The economy is gradually opening up. But the exodus has started hard and heavy. And the influx has stopped.
Week 8 of the Collapse of the U.S. Labor Market: Nearing a Previously Unthinkably Deep Bottom? by Wolf Richter • May 14, 2020 • 171 Comments “Insured unemployment rate” in California spiked to 27.7%, “continued claims” hit 4.8 million. In terms of “initial claims,” Georgia & Florida move into 1st and 2nd, ahead of California.
“Pent-up Supply” is Building up in the Housing Market: Example of San Francisco Bay Area’s North Bay by Wolf Richter • May 11, 2020 • 113 Comments “The next big shoe to drop will be when appraisers call a declining market in early August.”
How the Unicorn Blowup & Oil Bust Bleed into Commercial Mortgage-Backed Securities by Wolf Richter • Apr 26, 2020 • 178 Comments CMBS get to eat it all: Amid overvalued vacant collateral, there is a new thingy: Tenants delaying rent payments and landlords asking for forbearance.
Housing Market under COVID-19: Regular Folks Retreat, Foreign Investors Blocked, Large US Investors Gone, iBuyers Frozen by Wolf Richter • Apr 22, 2020 • 176 Comments Demand is a lot weaker in some places than in others. Here are the 20 cities with the largest drops.
Week Two of the Collapse of the Labor Market by Wolf Richter • Apr 2, 2020 • 248 Comments This type of sudden, previously unimaginable fall-off-the-cliff data about the lockdown-economy is gut-wrenching.
Week Two: How COVID-19 Lockdowns Impact US Housing Market. Mortgages Give Clues: It Gets Uglier by Wolf Richter • Apr 1, 2020 • 169 Comments “Nobody has any taste for risk anymore. All of those exotic loan programs have ceased. All investors buying that paper are gone”: mortgage broker.
CoronaWar Battlegrounds: New York Leads in Growth, Minnesota Bends it Best. California Hot Spots v. Italy & South Korea. Pain in Spain by Wisdom Seeker • Mar 28, 2020 • 215 Comments Madrid area hospitals were forced into wartime-triage, denying care to the elderly in order to give the young a better chance.
How Will Coronavirus Lockdowns Impact the US Housing Market? First Data Points Are Out. They’re Ugly by Wolf Richter • Mar 25, 2020 • 223 Comments And it’s just the first inkling of what’s in store for home sales.
How a Landlord of Neighborhood Malls Deals with the Lockdown Crisis his Tenants Face by Wolf Richter • Mar 19, 2020 • 84 Comments “Our Retail Marshall Plan.”
