US Government’s Fiscal Mess: Interest Payments on the Treasury Debt, Interest Rates, Tax Receipts, and Debt-to-GDP Ratio in Q2 2025

by Wolf Richter • Aug 28, 2025 • 43 Comments

An ugly situation. But capital gains taxes and tariffs helped. And the debt ceiling covered up part of the problem.

Buyers Strike: Pending Home Sales Drop Further, Plunge in Midwest, Near Record Lows in All Regions, as Supply Balloons

by Wolf Richter • Aug 28, 2025 • 67 Comments

And to top it off: cancellations of pending sales rose to a record rate in July.

Still Waiting for Lower Prices, Higher Incomes, Lower Rates: Mortgage Rates Tick Up, Demand in Deep Freeze, Supply Surges

by Wolf Richter • Aug 27, 2025 • 64 Comments

This buyers’ strike, which started in mid-2022, completes its third year.

From Hype to Missed Exits: Media Heroes, Momentum Stories, and Herding Effect

by Sponsored by TheTechnicalTraders.com • Aug 25, 2025

When The Music Stops, Slogans Do Not Protect You.

Manufacturing of Durable Goods on Rebound in the US

by Wolf Richter • Aug 26, 2025 • 48 Comments

Boeing & jet engine makers are part of it. And the other part is the rest of manufacturing.

New Single-Family Home Prices Drop Further as Inventory Glut Grows. In the South, Inventory for Sale Hits New Record

by Wolf Richter • Aug 25, 2025 • 93 Comments

Homebuilder Lennar’s average selling price has dropped by 19.5% from the peak three years ago.

Big Fuss in the Media about the Government’s 10% Stake in Intel, but just Giving this Cash to Intel under the CHIPS Act Was Fine?

by Wolf Richter • Aug 25, 2025 • 170 Comments

The media are tangled up in their own underwear about this deal, while totally onboard with sacrificing taxpayers on the altar of Biden’s policies.

The 12 Bigger Cities with the Biggest Price Declines of Single-Family Homes (-10% to -23%) through July

by Wolf Richter • Aug 23, 2025 • 47 Comments

Oakland, Austin, New Orleans, Cape Coral, San Francisco, Birmingham, Washington DC, Fort Myers, Denver, Portland, Phoenix, and Sarasota.

Powell Makes Room for Rate Cut. Fed Kills “Average Inflation” Targeting that Caused so Much Damage when Inflation Raged

by Wolf Richter • Aug 22, 2025 • 161 Comments

Fed to “proceed carefully” with changes to policy stance amid heavy concerns about rising inflation.

Sales of Existing Single-Family Homes Crushed, Supply Highest since 2016. Condo Sales Near Low in the Data, Supply Highest since Housing Bust. Prices Begin to Bend

by Wolf Richter • Aug 21, 2025 • 98 Comments

Prices of condos drop year-over-year, single-family price growth “near zero.” West & South take serious hits.

Condo Prices Already Dropped by 12%-26% in 21 Bigger Cities through July. Condo Bust Takes Shape

by Wolf Richter • Aug 20, 2025 • 94 Comments

Oakland, Austin, San Francisco, Denver, Tampa, Seattle, New York City, Saint Petersburg, Fort Myers, Sarasota, Boise, Jacksonville, Detroit, New Orleans, Portland, Arlington, Naples, Mesa, Aurora, Reno, Scottsdale.

Where Americans Spend $1.2 Trillion a Year at Ecommerce Retailers and How that Changed Over Time

by Wolf Richter • Aug 19, 2025 • 70 Comments

Clothing & general merchandise online retailers are the biggie.

Credit Card Delinquencies, Balances, Burden, Credit Limits, and Collections in Q2 2025

by Wolf Richter • Aug 19, 2025 • 30 Comments

Our Drunken Sailors and their Credit Cards.

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

by Wolf Richter • Aug 18, 2025 • 105 Comments

Home prices fell YoY in 20 of our 33 metros: Tampa, Austin, Miami, San Diego, San Jose, San Francisco, San Antonio, Dallas, Phoenix, Orlando, Atlanta, Denver, Raleigh, Houston, Seattle… Some still up YoY: Boston, Chicago, New York, Philadelphia…

My Thoughts about those July Retail Sales

by Wolf Richter • Aug 15, 2025 • 113 Comments

Drunken Sailors going about their lives, spending money, moving the economy forward.

Core Services PPI Explodes, Worst since March 2020, Causes Overall PPI and Core PPI to Explode

by Wolf Richter • Aug 14, 2025 • 223 Comments

Food prices also spiked. Energy prices surged due to diesel, jet fuel, and industrial electric power. Ugly all around.

Inventory of Homes for Sale in New York, Philadelphia, Chicago, Boston, Nashville, Atlanta, Washington DC, Columbus, Detroit, Minneapolis

by Wolf Richter • Aug 13, 2025 • 68 Comments

Each market dances to a different drummer. But in some metros, the drummer hasn’t gotten out of bed yet.

Fed’s Nightmare: CPI Inflation in Core Services Worst in 6 Months, Pushing Core CPI to Worst in 6 Months. Some Goods Prices Fell, Others Rose

by Wolf Richter • Aug 12, 2025 • 209 Comments

The shocker for the 2nd month was the re-acceleration of inflation in core services, the biggie, accounting for 60% of overall CPI.

Serious Delinquency Rates for Subprime & Prime Auto Loans, their Balances, and their Burden: Our Drunken Sailors in Q2

by Wolf Richter • Aug 11, 2025 • 34 Comments

Subprime is, as always, in trouble, which is why it’s subprime – high-risk-high-profit auto sales & lending that can entail steep losses.

Average Age of First-Time Home Buyers and How it Changed over the Past 25 Years

by Wolf Richter • Aug 11, 2025 • 104 Comments

Turns out, younger people live their lives, and have always done so.

Government Sold $724 Billion of Treasuries this Week, Debt Hits $37.0 Trillion. Getting Ready for the Fed’s Shift to T-Bills

by Wolf Richter • Aug 8, 2025 • 124 Comments

10-year and 30-year yields rose after rough auctions, despite huge issuance of T-bills to take pressure off long-term yields.