People Are Now on Buyers’ Strike Because Home Prices Are too High: Fannie Mae by Wolf Richter • Oct 7, 2024 • 105 Comments Optimism about dropping mortgage rates drove up the Home Purchase Sentiment Index, but the poll occurred just before mortgage rates exploded.
More Evidence this May Be the End of the Historic Plunge of Used Vehicle Prices that Had Pushed Down CPI by Wolf Richter • Oct 7, 2024 • 44 Comments Amid tight supply and strong demand.
Mortgage Rates Explode, 2-Year & 10-Year Treasury Yields Spike, Monster Rate-Cut Hopes Doused, Inflation Fears Resurface: Yield Curve Before & After the Rate Cut by Wolf Richter • Oct 5, 2024 • 138 Comments The yield curve moved further toward un-inversion, but not the way it was hoped.
OK, Forget it, False Alarm, Labor Market Is Fine, Bad Stuff Last Month Was Revised Away, Wages Jumped. No More Rate Cuts Needed? by Wolf Richter • Oct 4, 2024 • 232 Comments Pandemic distortions and millions of migrants suddenly entering the labor market, who are hard to track, have wreaked havoc on data accuracy.
Fed Balance Sheet QT: -$66 Billion in Sept., -$1.92 Trillion from Peak, to $7.05 Trillion, Back to May 2020. To Drop Below $7 Trillion in 1-2 Months by Wolf Richter • Oct 3, 2024 • 72 Comments Quantitative Tightening has shed 40% of the assets added during pandemic QE.
Here Come the Vacant Homes: New Listings Jump when they Normally Drop in September, Active Listings Pile up, Listing Prices Drop below 2 Years Ago. Buyers on Strike, Prices too High by Wolf Richter • Oct 3, 2024 • 84 Comments Sellers coming out of the closet with their vacant homes. Active listings exploded the most in San Diego (+77%).
Ugly Q3 for ICE Vehicles. Total Q3 Sales Dropped Year-over-Year. But EV Sales Jumped, even at GM & Ford by Wolf Richter • Oct 2, 2024 • 56 Comments Prices too high, automakers too slow cutting them from the pandemic spike. Stellantis sales plunged 20%, a fiasco.
Tesla’s Global Deliveries Rise, Best Q3 Ever, But Not Enough to Fix the Shattered High-Growth Story by Wolf Richter • Oct 2, 2024 • 89 Comments Cybertruck production ramping up, starting to show up in the numbers (a little). Long way to go.
Epic Office Glut Hits Records in San Francisco, Atlanta, Chicago, Los Angeles, Seattle, Washington DC. Dallas Availability Rate Dips to 30%, Houston rises to 29% by Wolf Richter • Oct 1, 2024 • 44 Comments The “war for space” before the pandemic unravels into biggest office glut ever.
Balance of Power Changed, Employers Re-exert Control, but also Cling to their Workers by Wolf Richter • Oct 1, 2024 • 88 Comments Fewer workers quit (rattled by layoff headlines?), so fewer vacant slots to fill and less hiring. But actual layoffs are at historic lows.
