Landing Cancelled? Retail Sales Jump, Prior Months Revised Up, Boost Atlanta Fed GDPNow to +3.4% Inflation-Adjusted GDP Growth by Wolf Richter • Oct 17, 2024 • 155 Comments This demand growth is adding to renewed inflation concerns. The huge waves of immigrants in 2022-2024 are part of this demand growth.
Home-Purchase Demand Destruction Accelerates, Prices Too High, Buyers’ Strike Deepens: Sales of Existing Homes Head for Worst Year since 1995 by Wolf Richter • Oct 16, 2024 • 159 Comments Too-high prices destroy demand. Everyone knows that. Lower prices would bring out demand.
The Most Splendid Housing Bubbles in America: Sept Update: Prices Drop in 26 of 28 Big Metros, even San Diego, Los Angeles by Wolf Richter • Oct 15, 2024 • 124 Comments 1 New High. 19 metros below 2022 peaks: Austin, San Francisco, Phoenix, Denver, Salt Lake City, Portland, Seattle, Dallas, Honolulu, Nashville…
The Most Splendid Housing Bubbles in Canada, September: Biggest Drops in Toronto, Vancouver, Victoria, even Calgary Gives, amid Surge of New Listings. Condos Get Hit Hard by Wolf Richter • Oct 15, 2024 • 42 Comments Sellers come out of the woodwork after the rate cuts, buyers not so much. But Montreal, Edmonton, and Winnipeg play with all-time highs.
Venture Capital Slammed by Fed Tightening: Exits Blocked after IPOs & SPACs Collapsed, Distributions at Financial Crisis Lows by Wolf Richter • Oct 14, 2024 • 82 Comments Rise of Zombie VCs that stick around collecting fees as their startups run out of cash and die. The AI boom is the exception.
What If There’s No Landing at all, But Flight at Higher Speed and Altitude than Normal, with Higher and Rising Inflation? by Wolf Richter • Oct 13, 2024 • 194 Comments That scenario is re-emerging as a real possibility in recent economic data.
After Large Up-Revisions, “Core” & “Core Services” PPI Inflation Not Benign at All. Whole Scenario Changed for the Worse by Wolf Richter • Oct 11, 2024 • 131 Comments Six-month core PPI: +3.4%. Six-month services PPI: +3.7%. Year-over-year, both also accelerated further. But energy prices plunged.
Beneath the Skin of CPI Inflation: “Core CPI” Accelerates for 3rd Month on Sharp Flip of Used Vehicle Prices, Sticky Services Inflation. Gasoline Plunged by Wolf Richter • Oct 10, 2024 • 185 Comments Surging homeowner insurance and other homeowner costs fuel OER CPI, which is now hotter than rent CPI.
Bond Market Smells a Rat: On Eve of CPI Inflation Data, 10-Year Treasury Yield Jumps to 4.08%, +43 bps since Monster Rate Cut by Wolf Richter • Oct 9, 2024 • 135 Comments Fed is seen as deprioritizing inflation fight, while a tsunami of supply heads for markets.
Florida Housing Market Buckles, Listing Prices Sag to 30-Month Low but Are Still Way Too High, Inventory Piles Up, Institutional Investors Turn into Net Sellers by Wolf Richter • Oct 8, 2024 • 187 Comments He who panics first, panics best. Mr. Holmes, with no offers in 9 months, missed that train and is chasing prices lower.
