Automakers need to do some serious navel-gazing about price levels and going upscale, if they want to sell more vehicles. To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. […]
https://pricklypear.news/wp-content/uploads/7797eaa706738b59fa7d432d5463e2ad.jpg6661000Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-12-12 00:27:592022-12-15 09:05:37$1,768 a Month, with $10,407 Down, 5% APR, on a Ford Pickup?
Stocks and bonds have had a rough year in 2022. Readers might remember, we forecast this as a “risk off” year quite some time ago, meaning a high probability of a dual bear market in both stocks and bonds. From the beginning of the year, stocks had lost about 26%, putting us officially into “bear” […]
https://pricklypear.news/wp-content/uploads/iStock-503640774-scaled.jpg17072560Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-12-07 00:28:532022-12-15 09:02:42Recent Stock Rally Not Likely To Last
Deflating Everywhere, Fastest in San Francisco & Seattle. Phoenix & Dallas Roll Over Too In several markets, prices plunged even faster than they’d spiked. From the peak in May, house prices in the San Francisco Bay Area dropped by 11.6%, in the metros of Seattle by 11.3%, San Diego by 7.9%, Los Angeles by […]
https://pricklypear.news/wp-content/uploads/iStock-1397028646.jpg14062131Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-12-05 00:28:592022-12-15 09:05:37The Most Splendid Housing Bubbles in America
Sellers are struggling with denial: Priced “right,” a home will sell, but “right” is where the buyers are, and they’re a lot lower. Sales of all types of previously owned homes – houses, condos, and co-ops – fell by 5.9% in October from September, the ninth month in a row of declines, to a seasonally adjusted […]
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. H. L. Mencken The recent results of the mid-term elections have a number of pundits puzzled, including ourselves. It was felt that the economy would be dominant. Inflation is at the worst levels in 40 years, […]
Big drops in San Diego, Los Angeles, Dallas, Portland, Phoenix, Boston. Prices going down faster than they’d spiked? No way. Oops. This is the first month in this cycle that the S&P CoreLogic Case-Shiller Home Price Index, which lags reality on the ground by 4-6 months, is showing house price declines in all the metros in […]
Holy-moly mortgage rates of 7% slash demand for new houses due to super-inflated prices, but prices are now coming down. Traffic of prospective buyers of new single-family houses plunged to the lowest since 2012, excluding the two lockdown months April and May, and is now approaching even the levels of those two lockdown months, […]
Beneficiaries got whacked over the head in 2021 and 2022 by raging inflation that outran the COLAs. Among the raging and worse-than-expected inflation data released today was the Consumer Price Index for All Urban Wage Earners and Clerical Workers (CPI-W), which the Social Security Administration uses to calculate the Cost-of-Living Adjustment (COLA) for Social Security benefits. […]
https://pricklypear.news/wp-content/uploads/social-security-1.jpg408612Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-10-18 01:50:592022-12-15 09:05:39Social Security COLA for 2023 Biggest since 1981, Might Finally Outpace Inflation, Unless Inflation Dishes Up More Surprises
One of the cardinal questions in politics for voters to answer is: are you better off today than you were before? Has the party in power made your life better or worse, easier or more difficult, safer or more dangerous? Are you freer, or less free than before? We think an objective answer to this […]
https://pricklypear.news/wp-content/uploads/dispair.jpg339509Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-10-17 05:42:452022-12-15 09:02:43Yes, Things ARE as Bad as You Think They Are. Here is What You Can Do.
The US dollar has been on a tear rarely if ever seen before. This has been helped by soaring interest rates. For example, we began the year with the bellwether 10-year Treasury bond at 1.6% while last week’s auction saw rates above 4%. While the nominal change does not seem that large, the percentage change […]
https://pricklypear.news/wp-content/uploads/iStock-1088813672.jpg8361254Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-10-06 01:55:542022-12-15 09:02:43The US Dollar Hits a 35 Year High
$1,768 a Month, with $10,407 Down, 5% APR, on a Ford Pickup?
/in Economy, Featured, Personal Finance/by Wolf RichterAutomakers need to do some serious navel-gazing about price levels and going upscale, if they want to sell more vehicles. To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. […]
Recent Stock Rally Not Likely To Last
/in Economy, Featured, Latest News, Personal Finance/by Neland NobelStocks and bonds have had a rough year in 2022. Readers might remember, we forecast this as a “risk off” year quite some time ago, meaning a high probability of a dual bear market in both stocks and bonds. From the beginning of the year, stocks had lost about 26%, putting us officially into “bear” […]
The Most Splendid Housing Bubbles in America
/in Arizona News, Economy, Featured, Latest News, Personal Finance/by Wolf RichterDeflating Everywhere, Fastest in San Francisco & Seattle. Phoenix & Dallas Roll Over Too In several markets, prices plunged even faster than they’d spiked. From the peak in May, house prices in the San Francisco Bay Area dropped by 11.6%, in the metros of Seattle by 11.3%, San Diego by 7.9%, Los Angeles by […]
Home Sales Plunge, Investors Pull Back Too, Prices Drop 8.4% in 4 Months
/in Economy, Featured, Personal Finance/by Wolf RichterSellers are struggling with denial: Priced “right,” a home will sell, but “right” is where the buyers are, and they’re a lot lower. Sales of all types of previously owned homes – houses, condos, and co-ops – fell by 5.9% in October from September, the ninth month in a row of declines, to a seasonally adjusted […]
It Apparently Wasn’t the Economy, Stupid!
/in Economy, Featured, Latest News, Liberty, Midterms 2022, Personal Finance, Politics/by Neland NobelDemocracy is the theory that the common people know what they want, and deserve to get it good and hard. H. L. Mencken The recent results of the mid-term elections have a number of pundits puzzled, including ourselves. It was felt that the economy would be dominant. Inflation is at the worst levels in 40 years, […]
HOUSING BUBBLE: Price Drops Spread Across America
/in Arizona News, Economy, Featured, Personal Finance/by Wolf RichterBig drops in San Diego, Los Angeles, Dallas, Portland, Phoenix, Boston. Prices going down faster than they’d spiked? No way. Oops. This is the first month in this cycle that the S&P CoreLogic Case-Shiller Home Price Index, which lags reality on the ground by 4-6 months, is showing house price declines in all the metros in […]
Housing Bubble: Buyer Traffic and Homebuilder Confidence Plunge Faster than Expected
/in Economy, Featured, Latest News, Personal Finance, Politics/by Wolf RichterHoly-moly mortgage rates of 7% slash demand for new houses due to super-inflated prices, but prices are now coming down. Traffic of prospective buyers of new single-family houses plunged to the lowest since 2012, excluding the two lockdown months April and May, and is now approaching even the levels of those two lockdown months, […]
Social Security COLA for 2023 Biggest since 1981, Might Finally Outpace Inflation, Unless Inflation Dishes Up More Surprises
/in Economy, Featured, Personal Finance/by Wolf RichterBeneficiaries got whacked over the head in 2021 and 2022 by raging inflation that outran the COLAs. Among the raging and worse-than-expected inflation data released today was the Consumer Price Index for All Urban Wage Earners and Clerical Workers (CPI-W), which the Social Security Administration uses to calculate the Cost-of-Living Adjustment (COLA) for Social Security benefits. […]
Yes, Things ARE as Bad as You Think They Are. Here is What You Can Do.
/in Culture War, Economy, Liberty, Midterms 2022, National Security, Personal Finance, Politics/by Neland NobelOne of the cardinal questions in politics for voters to answer is: are you better off today than you were before? Has the party in power made your life better or worse, easier or more difficult, safer or more dangerous? Are you freer, or less free than before? We think an objective answer to this […]
The US Dollar Hits a 35 Year High
/in Economy, Featured, Personal Finance, Politics/by Neland NobelThe US dollar has been on a tear rarely if ever seen before. This has been helped by soaring interest rates. For example, we began the year with the bellwether 10-year Treasury bond at 1.6% while last week’s auction saw rates above 4%. While the nominal change does not seem that large, the percentage change […]