Author: Wolf Richter

Why Simon Property Group & Brookfield Property, #1 & #2 Mall Landlords, Bought JCPenney and Other Collapsed Retailers out of Bankruptcy

Why Simon Property Group & Brookfield Property, #1 & #2 Mall Landlords, Bought JCPenney and Other Collapsed Retailers out of Bankruptcy After years of brick-and-mortar meltdown, the Pandemic. Desperate measures are now required. By Wolf Richter for WOLF STREET. Simon Property Group and...

Big City Exodus: Rents of Single-Family Houses Rise Across the US, Even as Apartment Rents in Expensive Cities Drop Sharply

Big City Exodus: Rents of Single-Family Houses Rise Across the US, Even as Apartment Rents in Expensive Cities Drop Sharply Californians applying to lease single-family houses in Arizona, Nevada & Texas doubled from year ago; migration from New York &...

US Apartment Market Splits in Two, 100 Cities: Where Rents Jumped or Dropped the Most, Are Highest or Lowest

US Apartment Market Splits in Two, 100 Cities: Where Rents Jumped or Dropped the Most, Are Highest or Lowest Unemployment and work-from-home or work-from-anywhere are massively shifting where people want to live. By Wolf Richter for WOLF STREET. Apartment rents in 15 of...

Do We Really Need More Stimulus to Print More Millionaires & Billionaires, Enrich Fraudsters, Balloon the Trade Deficit? Consumer Data Says, “No We Don’t”

Do We Really Need More Stimulus to Print More Millionaires & Billionaires, Enrich Fraudsters, Balloon the Trade Deficit? Consumer Data Says, “No We Don’t” People who need support, should get support. As for the rest? On my soapbox, wildly wagging...

No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP

No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP GDP back to Q1 2018. Worst ever “net exports.” The decline in government...

Unlocked Shareholder Value, so to Speak: Job Cuts at Boeing to Reach 30,000. Commercial Airplane Revenue -56%. $5 Billion Go Up in Flames in Q3, $22 Billion since 737 Max Fiasco.

Unlocked Shareholder Value, so to Speak: Job Cuts at Boeing to Reach 30,000. Commercial Airplane Revenue -56%. $5 Billion Go Up in Flames in Q3, $22 Billion since 737 Max Fiasco. $43 billion incinerated on Share Buybacks since 2012 to...

Americans Are Super-Gloomy About Holiday Spending, But Industry Ramps Up for Blockbuster Christmas

Americans Are Super-Gloomy About Holiday Spending, But Industry Ramps Up for Blockbuster Christmas Something is afoot here. And someone is going to be wrong. By Wolf Richter for WOLF STREET. That would be embarrassing: There has been the massive surge in shipments to...

Jingle Mail Haunts Commercial Mortgage-Backed Securities as Property Values Get Slashed Below Loan Amounts

Jingle Mail Haunts Commercial Mortgage-Backed Securities as Property Values Get Slashed Below Loan Amounts At the time of securitization into CMBS a few years ago, inflated collateral values led to soothingly low loan-to-value ratios. Then trouble hit. By Wolf Richter for WOLF STREET....