Companies & Markets

I Love How Tesla Wreaks Havoc among Automakers with Massive Price Cuts, Huge Sales Growth, Even Huger Production Growth, and Overcapacity

by Wolf Richter • Apr 22, 2023 • 318 Comments

Shareholders hate it. It’s bitter medicine for the industry that pushed upscale and jacked up prices so average Americans can no longer buy new vehicles.

Amex Customers – Above-Average-Income Consumers – Are Spending like Drunken Sailors, incl. on Travel & Restaurants

by Wolf Richter • Apr 21, 2023 • 153 Comments

They’re the Big Spenders, they move the needle. Millennials and Gen Z-ers are now the drivers of this growth.

Second PE-Firm-Owned Subprime Auto Dealer & Lender Suddenly Shuts Down after its Subprime Auto-Loan Bonds Make a Huge Mess

by Wolf Richter • Apr 18, 2023 • 127 Comments

“Net losses and gross charge-offs were understated” – Oopsie?

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.

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.