Demand Destruction for Existing Homes: Sales in 2024 Track Lowest since 1995 amid Highest Supply for October in 6 Years by Wolf Richter • Nov 21, 2024 • 132 Comments Too-high home prices cause demand destruction on an epic scale. Buyers’ strike continues in November and December.
ECB’s Own Measure of Wage Increases Blows Fuse, Sets Off Alarms about Stubbornly Hot Services Inflation by Wolf Richter • Nov 20, 2024 • 57 Comments Meanwhile, the ECB’s QT marches on, balance sheet has shed €2.45 trillion since the peak, or 59% of its pandemic QE.
Credit Card Delinquency Rates, Balances, Burden, and Available Credit in Q3 2024 by Wolf Richter • Nov 19, 2024 • 83 Comments Americans far from “tapped out.” Credit card delinquency rate dips to 3.2% (Fed), “prime” delinquency rate 0.99% (Fitch), “subprime” gets over free-money hangover.
US Treasury Debt Held by Foreign Investors: Ravenous Appetite for Juicy Yields, Juicy Compared to their Stuff at Home by Wolf Richter • Nov 18, 2024 • 79 Comments Will foreign investors buy the Recklessly Ballooning US Debt? Increasingly crucial question. But yield solves demand problems.
Auto-Loan Balances, Burden, Subprime & Prime Delinquency Rates, and Subprime Dealer America’s Car-Mart in Q3 2024 by Wolf Richter • Nov 16, 2024 • 64 Comments Subprime is always in trouble, and now, after the reckless-subprime lending era, more so. Prime is in pristine shape. Car-Mart joins our Imploded Stocks.
The Most Splendid Housing Bubbles in Canada, Oct. 2024: Single-Family Prices Drop Most in Toronto, Vancouver, Calgary, Ottawa. Condo Prices Hit 3-Year Low by Wolf Richter • Nov 15, 2024 • 67 Comments Toronto single-family prices -19% from peak, back to Oct. 2021. In Montreal, Quebec City, Edmonton, and Winnipeg, prices near all-time highs.
Here Come the HELOCs: Mortgages, the Burden of Housing Debt, Serious Delinquencies, and Foreclosures in Q3 2024 by Wolf Richter • Nov 14, 2024 • 77 Comments HELOC balances surged, mortgages not so much, and incomes grew a lot faster than housing debt.
After More Up-Revisions, “Core” PPI & “Core Services” PPI Inflation Get Much Worse, Accelerating All Year by Wolf Richter • Nov 14, 2024 • 76 Comments But goods prices are relatively tame. Energy prices plunge.
Household Debt, Delinquencies, Collections, Foreclosures, and Bankruptcies: Our Drunken Sailors and their Debts in Q3 2024 by Wolf Richter • Nov 13, 2024 • 101 Comments As a growing population financed more costly purchases, total debt rose. But income rose even faster in recent quarters.
Beneath the Skin of CPI Inflation: Overall CPI Accelerates for 4th Month, “Core” CPI for 3rd Month on Re-spiking Used Vehicle Prices & Rising Homeowner Costs by Wolf Richter • Nov 13, 2024 • 68 Comments Year-over-year, CPI and “core” CPI are starting to show the effects of the month-to-month increases since the “inflation is vanquished” summer.
