Prices of New Houses Drop to 2-Year Low by Wolf Richter • Jan 25, 2024 • 99 Comments Homebuilders do what it takes to sell homes in this market while sales of existing homes have collapsed.
The Year of the Recession that Didn’t Come: Our Drunken Sailors Partied & Spent, GDP Jumped by Wolf Richter • Jan 25, 2024 • 100 Comments All major categories of spending and investment pulled in the same direction.
“Effective Immediately,” Fed Shuts Down Arbitrage Opportunity with the Bank Term Funding Program (BTFP) by Wolf Richter • Jan 24, 2024 • 134 Comments This is funny, in a central-bank kind of way.
Did the $5-Billion Acquisition of Homebuilder MDC Holdings by Japan’s Sekisui House Mark the Top for Homebuilder Stocks after the Rate-Cut-Mania Rally? by Wolf Richter • Jan 24, 2024 • 29 Comments With uncanny precision?
D.R. Horton Sheds Some Light on the Massive Costs of Mortgage Rate Buydowns as a Hedge Went Awry. Stock Tanks by Wolf Richter • Jan 24, 2024 • 86 Comments The plunge in mortgage rates in Nov and Dec blew up the hedge for the rate buydowns: surprise cost on top of the regular costs of buydowns.
Another Online Used-Car Dealer Bites the Dust: Vroom, 3.5 Years after Red-Hot IPO, Shuts Down as Ally Suspends Credit Line by Wolf Richter • Jan 23, 2024 • 66 Comments The SPACs Shift Technologies and Carlotz are already dead. Carvana is still out there, after its distressed debt exchange.
US Movie Ticket Sales -46% in 2023 from 21 Years Ago: AMC and the Movie Theater Meltdown by Wolf Richter • Jan 22, 2024 • 135 Comments Americans have changed how they watch movies. They watch more than ever, but at home.
Status of the Housing Bust in San Francisco (Lowest Price for any December since 2017 & 2019), Silicon Valley & the Bay Area by Wolf Richter • Jan 21, 2024 • 102 Comments In 19 months, prices in San Francisco dropped nearly as much as in the first 19 months of Housing Bust 1. Bay Area is well behind. We’re keeping score.
When Consensual Hallucination Fades: iRobot Shares -91% from Peak Meme-Stock Mania by Wolf Richter • Jan 20, 2024 • 68 Comments SEC, did you look at the story 2 months ago that Amazon “is set to win unconditional EU antitrust approval,” which caused iRobot to spike 39%?
Amid Collapsed Demand for Existing Homes, Prices Drop Further, Supply Highest for any December since 2018, New Listings Come out of the Woodwork by Wolf Richter • Jan 19, 2024 • 211 Comments Housing market is frozen, people have gone on buyers’ strike, sellers are hoping that this too shall pass.
