The 14 Bigger Cities & Counties with the Biggest Price Declines of Single-Family Homes (-10% to -25%) from Peak to October

by Wolf Richter • Nov 23, 2025 • 2 Comments

Oakland, Austin, New Orleans, Manhattan, Lee County (Cape Coral, Fort Myers), Sarasota County, San Francisco, Birmingham, Washington DC, Denver, Phoenix, Contra Costa County…

Credit Card Delinquencies, Balances, Burden, Credit Limits, and Collections in Q3 2025

by Wolf Richter • Nov 21, 2025 • 58 Comments

Despite all moaning and groaning and sour feelings in consumer land, credit card delinquency rates improved further.

Federal Government Job Cuts Still Hitting Employment Data: The Labor Market by Major Industry in Charts

by Wolf Richter • Nov 20, 2025 • 35 Comments

Federal and state governments cut 122,000 employees this year through September. But other industries hired.

The 24 Bigger Cities where Condo Prices Have Dropped by 12% to 29% through October

by Wolf Richter • Nov 19, 2025 • 46 Comments

The Condo Bust deepens and spreads to more cities, unwinding some mindboggling Condo Bubbles.

Treasury Market Scuttles Hope for December Rate Cut, Doubts January Cut, after Hawkish Fed Minutes

by Wolf Richter • Nov 19, 2025 • 31 Comments

“Many participants suggested that … it would likely be appropriate to keep the target range unchanged for the rest of the year.”

Social Security Fiscal Year 2025: Trust Fund Balance, Income, Outgo, Deficit, and Interest Rates

by Wolf Richter • Nov 18, 2025 • 83 Comments

The deficit doubled, as benefit payments spiked in part due to the expansion of Social Security, while income rose only slowly.

Another Sign that a Major Rethink of the Size of the Fed’s Balance Sheet Is Gaining Momentum

by Wolf Richter • Nov 17, 2025 • 103 Comments

Warsh, on the shortlist for Fed Chair, advocates for more QT, a smaller balance sheet, and lower short-term rates, in sync with Bessent.

Construction Spending on Data Centers, Factories, Powerplants, and Office Buildings: Boom at One End, Bust at the Other End

by Wolf Richter • Nov 17, 2025 • 62 Comments

But spending on factories dwarfs spending on data centers.

THANK YOU 💖 for Your Wonderful Support of WOLF STREET!!! And if You Missed the Fall Reminder: Please Donate

by Wolf Richter • Nov 16, 2025 • 11 Comments

Your support keeps Wolf Street open to all, not hidden behind a paywall, to reach the largest audience possible.

The Most Splendid Housing Bubbles in America: Price Drops & Gains in 33 Large Expensive Metros in October 2025

by Wolf Richter • Nov 16, 2025 • 67 Comments

Prices fell year-over-year in 22 of the 33 metros. In 9 of the 33, prices rose to new highs.

Government Sold $694 Billion of Treasuries this Week, Debt Hits $38.2 Trillion, Treasury Yields Rise Further, Shift to T-Bills Begins

by Wolf Richter • Nov 14, 2025 • 145 Comments

Long-term Treasury yields under pressure, amid large auctions of notes and bonds, despite shift to T-bills.

Data Fog Engulfing October due to Government Shutdown May “Never” Be Fully Lifted

by Wolf Richter • Nov 13, 2025 • 73 Comments

Survey-based data doesn’t exist because the surveys were not conducted in October. But data that companies electronically submitted exists.

Inflation Rages in Streaming Services

by Wolf Richter • Nov 12, 2025 • 115 Comments

Consumers, despite their ultra-foul mood, are not pushing back with waves of cancellations that would keep a lid on streamflation.

A 50-Year Mortgage Does Nothing for “Affordability,” Is a Terrible Deal for Homeowners and a Superb Deal for Banks & Investors

by Wolf Richter • Nov 11, 2025 • 167 Comments

Monthly payment of a 50-year mortgage of $500,000 would be only $91 lower than of a 30-year mortgage, but homeowners would get crushed by nearly $1 million in interest.

How Americans Handled their Auto Loans & Leases in Q3 2025: Subprime & Prime Delinquency Rates, Balances, and Burden

by Wolf Richter • Nov 10, 2025 • 43 Comments

Loan balances remained flat for a year despite higher unit sales, an unusual situation. Two reasons: prices and cash deals.

Entire Treasury Yield Curve from 3 Months to 30 Years Has Risen since Fed’s Rate Cut. Mortgage Rates too. Bond Market Edgy about Inflation & Supply

by Wolf Richter • Nov 9, 2025 • 145 Comments

The 6-month Treasury yield sees Fed on hold in December. Cutting rates as inflation accelerates is a delicate operation that the bond market isn’t fond of.

Here Come the HELOCs: Mortgages, Housing-Debt-to-Income-Ratio, Serious Delinquencies, and Foreclosures in Q3 2025

by Wolf Richter • Nov 7, 2025 • 73 Comments

Banks are mostly off the hook this time; risks were shifted to taxpayers and investors.

Fed Balance Sheet QT: -$14 Billion in October, -$2.39 Trillion from Peak, to $6.57 Trillion, Standing Repo Facility Back to Zero

by Wolf Richter • Nov 6, 2025 • 57 Comments

The SRF did its job. Month-end repo market turmoil, exacerbated by effects of the government shutdown, has settled down.

CarMax Enters our Imploded Stocks. Used-Car Dealers Face Reckoning after Jacking Up Prices by 55% in 2 Years

by Wolf Richter • Nov 6, 2025 • 80 Comments

Consumers have had it with high prices. In addition, these dealers have company specific issues.

Household Debts, Debt-to-Income Ratio, Delinquencies, Collections, Foreclosures, and Bankruptcies of our (not so) Drunken Sailors in Q3 2025

by Wolf Richter • Nov 5, 2025 • 76 Comments

The long-defaulted federal student loans were pulled out of the forbearance closet.