Despite Getting Whacked by Bank Turmoil, Layoff News, Credit Crunch, High Interest Rates, and Inflation, our Drunken Sailors Spent Even More, Even Adjusted for Inflation by Wolf Richter • May 26, 2023 • 241 Comments Where does the money come from? They now out-earn inflation and dipped into their assets whose prices ballooned over the years.
Fed’s Favored Core PCE Price Index Re-Accelerates, Driven by Services, Motor Vehicles: Inflation Stuck on High, Shifts from Item to Item by Wolf Richter • May 26, 2023 • 132 Comments Not encouraging: core PCE price index refuses to come down, has moved sideways since July last year.
Delinquencies in Subprime Auto-Loan-Backed Securities Have Second-Worst April Ever, Behind only Lockdown April: The Cost of Free Money by Wolf Richter • May 24, 2023 • 61 Comments In the free-money era, subprime auto lenders took huge risks amid seething demand from yield-chasing investors.
THANK YOU for Your Wonderful Support of WOLF STREET!! If You Missed the Fun Last Week, a Reminder: Please Donate by Wolf Richter • May 17, 2023 • 19 Comments Your donations have been crucial in helping Wolf Street thrive as an open no-paywall site that isn’t bogged down in ads.
Slowdown in Residential Construction Centers on Single-Family Houses. Multifamily Flattens at Highest Level Since 1986 by Wolf Richter • May 17, 2023 • 86 Comments Single-family construction still dominates, but its share of residential construction falls to the lowest in decades.
Household Debt as % of Disposable Income Fell to Good-Times Lows, on Much Higher Incomes Despite the OMG Headlines by Wolf Richter • May 16, 2023 • 104 Comments New delinquencies way below the pre-pandemic lows. Bankruptcies at record lows. The OMG stuff in the media about household debt is funny.
Trucking Skids Down Other Side of Pandemic Boom. Freight Rates, Per-Mile Rates, Diesel Partially Unwind their Spikes by Wolf Richter • May 15, 2023 • 40 Comments But freight rates only unwound one-third of Pandemic Spike.
Despite Fed Tightening and Bank Collapses, It’s Still an Astoundingly Loose Financial Situation in La-La-Land by Wolf Richter • May 13, 2023 • 207 Comments After years of money printing and pandemic stimulus, it’s hard to wring all this liquidity out of the financial system?
The Fed’s Interest Rates Are still Fueling Inflation rather than Dousing it, and People Getting Used to this Inflation by Wolf Richter • May 11, 2023 • 222 Comments Turned upside-down since late 2008 with QE and interest rate repression, it still hasn’t been turned right-side up.
What Are Older Office Towers Worth? Here’s the First Sale in San Francisco’s New Era of Office CRE by Wolf Richter • May 9, 2023 • 116 Comments Union Bank made a deal to sell its tower at 75% off original listing price, setting the first new benchmark. Other towers waiting in the wings.
