Subprime Auto Loans Are Getting Messy by Wolf Richter • May 18, 2024 • 1 Comment Huge profits in subprime caused specialized dealers/lenders to take big risks, which came home to roost. But prime auto loans are in pristine shape
As Rest of Retail Stagnates, Ecommerce is Hot. And what Walmart Said about this Phenomenon by Wolf Richter • May 17, 2024 • 92 Comments Walmart US online sales +22%. It credits “convenience” of ecommerce for its success in attracting higher income customers.
Who Fell Behind on their Credit Cards: Delinquencies, Balances, Burden, Available Credit, and the “Maxed Out” by Wolf Richter • May 16, 2024 • 93 Comments Only 18% of credit-card holders maxed out their cards, less than before the pandemic, but fell behind at a higher rate.
The Most Splendid Housing Bubbles in Canada: Spring Rally Fizzles, Prices -14% from Peak in Feb 2022, Below Sep 2021 by Wolf Richter • May 16, 2024 • 71 Comments New listings rise, inventory does 2nd biggest jump on record. Toronto prices -15% from peak, but Vancouver only -3.4%, Calgary sets new high.
Beneath the Skin of CPI Inflation, April: After Some Zigs, a Zag. But 6-Month Core CPI Hits 4.0%, 6-Month Core Services CPI Hits 6.0%, Both Highest since mid-2023 by Wolf Richter • May 15, 2024 • 118 Comments Month-to-month data is volatile. We’ll look at the trends.
Here Come the HELOCs in Household Debt: Mortgages, Delinquencies, and Foreclosures by Wolf Richter • May 15, 2024 • 111 Comments If residential mortgages get messy, banks are largely off the hook this time.
Household Debt, Delinquencies, Collections, and Bankruptcies: The Free-Money Era Is Over for our Not So Drunken Sailors by Wolf Richter • May 14, 2024 • 60 Comments Everything got more expensive over the years, the population grew, so debts rose, but income rose too.
PPI Inflation Acts Up in a Nasty Way: It Spikes after Big Downward Revisions by Wolf Richter • May 14, 2024 • 82 Comments Services knocked it out of the ballpark. Not helpful for the Fed-favored core PCE price index later in May, which includes some of those services.
There’s a Boom in Distressed Debt Exchanges to Deal with Leveraged-Loan Defaults by Wolf Richter • May 13, 2024 • 33 Comments An alternative to a restructuring in bankruptcy court.
Funny How Wall Street Tries so Hard to Get Homeowners to Pay Interest & Fees on their Own Money by Wolf Richter • May 12, 2024 • 169 Comments Second-lien mortgages to the rescue of the battered mortgage industry.
