Wolf Street - In a nasty big surprise of the type that inflation, once it’s running loose, likes to dish out, the Consumer Price Index in Canada re-accelerated in August for the second month in a row, to 4.0% year-over-year, according to Statistics Canada today, up from 3.3% in July, and 2.8% in June (red line in the […]

Wolf Street - The Canada Home Price Benchmark Index for single family houses fell by 1.1% in August from July, after having already fallen by 0.5% in July, to $825,700 (all prices in Canadian dollars), ending a rambunctious spring selling season that had been further fueled by Bank of Canada rate-cut hopes, which then turned into two additional […]

Wolf Street - Homebuilders don’t have the luxury of outwaiting the market, or waiting for the Fed to slash rates, or whatever, they must build and sell homes, that’s their business, no matter what the conditions in the market. And the market is struggling with 7%-plus 30-year fixed mortgage rates and sky-high prices, after a ridiculous free-money spike […]

Wolf Street - Today’s S&P CoreLogic Case-Shiller Home Price Index for “June” is a three-month moving average of home prices whose sales were entered into public records in April, May, and June, and it still shows the seasonal effects of spring selling season, when prices typically rise on a month-to-month basis, but the effects began to fade, and the index […]

HoweStreet.com Radio - High mortgage rates keeping housing inventory tight

Wolf Street - Sales of previously owned homes (houses, condos, and co-ops) fell further, by 2.2% in July from June, to a deep-dismal seasonally adjusted annual rate of sales of 4.07 million, the lowest since January, which had matched the March 2020 lockdown low, which had been the lowest since the Housing Bust in 2010, even as the median […]

Wolf Street - The spring selling season, or rather the Bank of Canada “Pause” season, which had been a rocking and rolling hoot, is over, and the first price declines are here. The Canada Home Price Benchmark Index for single family houses fell by 0.5% in July from June, and by 0.9% year-over-year, to $834,500 (all prices in […]

Wolf Street - Our Drunken Sailors have been out there spending money, and some of it comes from their surging income that has been outrunning inflation finally this year, and they’re spending money from their investment gains and from surging interest income from CDs, money market funds, Treasury bills, and savings accounts. And some are spending money they’ve […]