Who Takes the Losses on Office CRE? Here’s an Example: the Bankruptcy of Office Properties Income Trust by Wolf Richter • Nov 3, 2025 • 28 Comments Shareholders got wiped out, noteholders take losses and get the company, banks appear to be largely unscathed.
Office CMBS Delinquency Rate Hits Record 11.8%, Much Worse than Financial Crisis. Multifamily Delinquencies Soar to 7.1% by Wolf Richter • Nov 1, 2025 • 74 Comments Commercial real estate (CRE) loans on office and multifamily properties got further bludgeoned in October.
What Does the “Federal Funds Rate,” which the Fed Targets, still Measure? Not Much, Mostly a Bizarre Arbitrage Trade by Wolf Richter • Nov 1, 2025 • 19 Comments “The FOMC should modernize the target rate”: Dallas Fed president Lorie Logan.
The Cities Where Condo Prices Are Now Below their Housing Bubble Peaks 20 Years Ago by Wolf Richter • Oct 26, 2025 • 53 Comments Boom-Bust, Boom-Bust?
Food Inflation: The Price Spikes of Beef, Coffee, Eggs, and Dairy by Wolf Richter • Oct 24, 2025 • 121 Comments CPI for food at home has surged by 30% since January 2020. Food prices are nothing to be trifled with.
Massive Outlier in Owner’s Equivalent of Rent Pushed Down CPI, Core CPI, Core Services CPI: Something Went Awry at the BLS by Wolf Richter • Oct 24, 2025 • 85 Comments OER weighs 26% of CPI, 33% of core CPI, 44% of core services CPI. It moves the needle. CPI inflation would have been a lot hotter without this outlier.
US Treasury Debt Hits $38 Trillion after Spiking by $1 Trillion in 2.5 Months and by $1.8 Trillion since the Debt Ceiling by Wolf Richter • Oct 22, 2025 • 99 Comments But debt and interest expense don’t exist in a vacuum.
The Huge US Bond Market and the US Dollar Blow Off the “Debasement Trade” by Wolf Richter • Oct 13, 2025 • 121 Comments The bond market has taken the opposite bet, and the dollar has strengthened.
Is it Really Different this Time? by Wolf Richter • Oct 10, 2025 • 190 Comments AI is huge. But so is the mania of hype, hocus-pocus deals, and piles of real money fortified by leverage that caused stock prices to explode.
Amazing How the Money-Printing World Has Reversed by Wolf Richter • Oct 9, 2025 • 77 Comments Balance Sheet as % of GDP: Fed, ECB, BOJ, BOE, and Central Banks of Canada, Australia, New Zealand, and Sweden
