Buyers’ Strike Deepened in August Despite Lower Mortgage Rates. Listings Surge, Home Sellers Slowly Drop Prices by Wolf Richter • Sep 5, 2024 • 105 Comments Listing prices, YoY: Miami -11.7%, San Diego -9.1%, Kansas City -8.5%, San Francisco -7.7%, Austin -7.6%. Active listings explode in Tampa, San Diego, Miami, Seattle…
Why We’ll Replace the Case-Shiller Home Price Index for Our Series, “The Most Splendid Housing Bubbles in America” by Wolf Richter • Sep 2, 2024 • 99 Comments The series, started in 2017 to document visually the surging home prices amid the Fed’s interest rate repression, will now get bigger and better.
Our Drunken Sailors Are at it Again, Not at All in the Mood for a Slowdown or a Recession by Wolf Richter • Aug 30, 2024 • 161 Comments Inflation-adjusted consumer spending jumped. They splurged on durable goods. And still saved some. In response, the Atlanta Fed’s GDPNow jumped.
Spiking Interest Payments on the Ballooning US Government Debt v. Tax Receipts, GDP, and Inflation: Q2 Update by Wolf Richter • Aug 29, 2024 • 91 Comments Burden of the national debt: The portion of tax receipts swallowed by interest payments.
Treasury Department Aggressively Pushes Down Long-Term Interest Rates via Shift to T-bill Issuance and Bond Buybacks by Wolf Richter • Aug 28, 2024 • 168 Comments But buybacks occur at huge losses for investors. Today it bought back a 1.25% 20-year bond for 66 cents on the dollar.
Here Come the HELOCs: Mortgages, the Burden of Mortgage Debt, Delinquencies, and Foreclosures in Q2 by Wolf Richter • Aug 7, 2024 • 75 Comments Delinquencies mostly edged down. Foreclosures form a frying pan pattern.
Household Debt, Delinquencies, Collections, and Bankruptcies: Our Drunken Sailors and their Debts in Q2 by Wolf Richter • Aug 6, 2024 • 96 Comments Total debt rose over the years as a larger population financed more costly collateral. But income rose too.
Berkshire Dumped Nearly Half its Apple Shares plus Other Stocks into Final Burst of Rally, Bought T-Bills. Cash is King by Wolf Richter • Aug 4, 2024 • 163 Comments “You could conclude this is another sell signal. This was a far higher level of selling activity than we were expecting.”
Growth in Jobs Slows to 2017-2019 Pace, Unemployment Rate Rises as Massive Wave of Immigrants Is Absorbed More Slowly by Wolf Richter • Aug 2, 2024 • 131 Comments Wage growth slows to normal-ish rate.
The Most Splendid Housing Bubbles in America, July 2024 Update. Below 2022 Peak: San Francisco, Seattle, Phoenix, Portland, Denver, Dallas, Las Vegas. New Highs: Miami, Los Angeles, San Diego… by Wolf Richter • Jul 30, 2024 • 103 Comments New Highs: Boston, New York, Miami, Tampa, Los Angeles, San Diego, Washington DC, and Chicago.
