After CRE Office Market Repriced at 70% Off in San Francisco, Sales Revive. Leasing Jumps amid 35% Vacancy Rates and 21% Drop in Asking Rents by Wolf Richter • May 6, 2025 • 40 Comments If left alone, markets are good at sorting out a tough situation like this. The housing market could learn a lesson.
NY Fed’s “Multivariate Core Trend” Inflation Measure Hits 3.0%, Worst in Over a Year, Predicts Acceleration of PCE Price Index by Wolf Richter • May 5, 2025 • 93 Comments Driven largely by non-housing services. Just in time for the Fed meeting.
California Inventory of Homes for Sale Suddenly Piles Up: +51% Year-over-Year, to Highest April in Years by Wolf Richter • May 5, 2025 • 87 Comments Active listings in San Diego +70% yoy, Los Angeles +50%, San Jose & Silicon Valley +67%; San Francisco metro +43% (highest April since at least 2016)
Unsold Inventory of Homes for Sale in Florida Pile up Further in April. Some Metros Start Seeing Gluts, Miami Still Lags a Little by Wolf Richter • May 3, 2025 • 94 Comments Active Listings compared to April 2019: Jacksonville +23%, North Port-Sarasota +29%, Tampa +31%, Orlando +40%, Cape Coral-Fort Myers +42%, Lakeland-Winter Haven +71%.
Tariffs Start Washing into the Government Checking Account by Wolf Richter • May 2, 2025 • 164 Comments The cashflow of Customs and Excise Taxes has nearly doubled in two months.
Labor Market Is Just Fine Despite Dropping Federal Government Jobs, Media-Driven Moaning and Groaning, and Tariff Chaos by Wolf Richter • May 2, 2025 • 81 Comments The millions of immigrants that arrived in 2021-2024 finally get picked up in the data for labor force and total employment, which continued to spike.
Fed Balance Sheet QT: -$14 Billion in April, -$2.26 Trillion from Peak, to $6.71 Trillion, Lowest since April 2020 by Wolf Richter • May 1, 2025 • 33 Comments Quantitative Tightening has shed 25.2% of total assets. The Assets-to-GDP ratio declined to 22.4%, first seen in 2013.
Now the Multifamily CMBS Delinquency Rate Begins to Spike, while Office Delinquencies Re-Spike to Financial Crisis Peak by Wolf Richter • May 1, 2025 • 49 Comments The CRE meltdown just doesn’t let up.
Inflation Is in the Revisions? What Stands Out Once Again in the PCE Price Index? Sharp Up-Revisions of Prior Month’s Inflation by Wolf Richter • Apr 30, 2025 • 66 Comments Up-revisions pushed the 12-month core PCE price index for February to +3.0%, and the 6-month to +3.4%, worst since July 2023. But March was benign?
GDP Whacked by Massive Spike in Imports on Frontrunning of Tariffs. Consumer Spending Grew, Business Investment Soared by Wolf Richter • Apr 30, 2025 • 81 Comments “Final sales to private domestic purchasers” jumped by 3.0%, on strength in the private economy of businesses and consumers.
