Recent Tweets that caught my eye: Surging housing supply in select cities, China’s massive shipbuilding, mainstream media deathbed, strangely rising mortgage refis, and how to rescue a hedgehog.
Weapons to Ukraine
Is Blinkin itching for WWIII?
Mainstream Media Deathbed
Fast Food Prices
Give Credit to Biden
How to Rescue a Hedgehog
For those who say I only post negative news, here’s a great story. If you like this, I will post more in my Weekend Tweet articles.
Not Just Bankruptcies, Liquidations Are Rising
Massive Homebuilder Supply in Some Cities
Rising Inventory
Child Trafficking
Shipbuilding
The Wall Street Journal is constantly in support of more military spending everywhere. Not once do any of these writers ever say how they propose to pay for anything.
Worse Off Than a Year Ago?
Adam’s chart was from WSJ. My charts were from a Fed survey.
Expect More Inflation
Mortgage Refis Rising
Refis Rising From Low Levels
“That it’s heading up again now with the highest rates in 20 years shouldn’t just be dismissed.”
I agree with the above comment. In absolute terms, refis are at a very low level. But why are they rising at all? People are taking a 3 percent mortgage and refinancing for a 7 percent mortgage.
Q: Why?
A: Consumer stress to pay bills is high and rising.
New Home Sales Sink 4.7 Percent on Top of Huge Negative Revisions
New Home Sales plunged. And the Census Department completely revised away last month’s fictional 8.8 percent rise.
For discussion, please see New Home Sales Sink 4.7 Percent on Top of Huge Negative Revisions
Expect Big Negative Revisions to BLS Monthly Jobs in 2023
On April 24, the BLS released a little-read jobs report that shows reported jobs in 2023 may be wildly overstated. In turn, that means GDP is likely overstated as well.
For discussion, please see Expect Big Negative Revisions to BLS Monthly Jobs in 2023, GDP Too
Consistently large negative revisions are the hallmark of recessions.
Homebuilders Have the Most Inventory Since May 2008
Speculative building, measured by started but unsold housing inventory, is at the highest level since May of 2008. To unload these units, builders will have to offer steep discounts.
For discussion, please see Homebuilders Have the Most Inventory Since May 2008, Big Discounts Coming
On the brighter side, we know how to rescue a hedgehog.