Sales of New Houses Collapse (in the West by 50%!) Inventories & Supply Spike to High Heaven, Worst since Peak of Housing Bust 1 by Wolf Richter • Aug 23, 2022 • 223 Comments Forget “housing shortage.” It’s about crazy prices: For sales to revive at these mortgage rates, prices have to come down a lot, and they’re starting to.
Bonds of Bed Bath & Beyond Collapse on Bankruptcy Fears as Suppliers with Unpaid Bills Halt Shipments by Wolf Richter • Aug 22, 2022 • 118 Comments Meme-stock crowd got crushed, shares collapsed 69% in 4 days. Billionaire hedge-fund hero, who might have known about unpaid bills, got out in time.
Another Collapsed SPAC, Lottery.com, Discloses WTF Horror List and Says it Will Liquidate Unless Miracle Happens by Wolf Richter • Aug 16, 2022 • 124 Comments The years 2020 and 2021 will go down as the greatest era ever of consensual hallucination and financial gangsterism.
Compass Prepares for 25% Downturn in Housing Market, Plans Serious Cost Cutting, Pukes All Over the Place by Wolf Richter • Aug 15, 2022 • 117 Comments Because suddenly the SoftBank-backed company, which blew $1.73 billion since 2017, is running out of runway.
“Housing Recession”: NAHB. Homebuilders Cut Prices as Traffic of Prospective New-House Buyers Plunges, Cancellations Spike by Wolf Richter • Aug 15, 2022 • 141 Comments Homebuilder sentiment dives 8th month in a row, their stocks are down 19% to 36% YTD despite blistering summer rally.
Mopping up Mess from SPAC Mania: After Imploding, Shift Technologies (-92%) and CarLotz (-95%) Merge into One Zombie to Burn Remaining Cash Together by Wolf Richter • Aug 12, 2022 • 109 Comments Charts of stocks like these – hundreds of them now – are an indictment of the mania in 2020 & 2021. We’ll be shaking our heads for years.
Housing Bubble Getting Ready to Pop: The Big Boys Leave, Waiting for Reset by Wolf Richter • Aug 11, 2022 • 216 Comments Biggest investors in single-family houses: “We need to be patient and allow the market to reset.”
“Furthermore,” This Could be the End for Investors, Says Avaya, the Lucent Spinoff. Shares & Bonds Collapse Five Years after it Emerged from Bankruptcy by Wolf Richter • Aug 9, 2022 • 115 Comments Wait a minute… Six weeks ago, Goldman Sachs & JP Morgan talked investors into buying $600 million of new debt.
SoftBank Lost $39 Billion in 6 Months, Wiping Out the Bubble Gains of the Vision Funds Since 2017: Easy Come, Easy Go by Wolf Richter • Aug 8, 2022 • 98 Comments Now trying to avoid “a blow that would be irreversible.”
Markets Are “Fighting the Fed” by Wolf Richter • Aug 3, 2022 • 259 Comments One of the most important dictums in finance is this: “Don’t fight the Fed.” And this could get ugly.
