Wall Street Investors have officially abandoned the Housing Market. With Redfin reporting a colossal 49% crash in investor purchases in Q1 2023. Even bigger than the drop that occurred in 2005 right before the last crash.

Wall Street Investors have officially abandoned the Housing Market.

With Redfin reporting a colossal 49% crash in investor purchases in Q1 2023.

This is the biggest annual decline on record.

Even bigger than the drop that occurred in 2005 right before the last crash. pic.twitter.com/9GyHqzHCKl

— Nick Gerli (@nickgerli1) May 31, 2023

In 2021, 68% of 25-year-olds [lived away from] parents’ home; 22% were married; 17% had a child. In 1980, 84% [lived] on their own; 63% were married; 39% had a child

In 2021, 68% of 25-year-olds were living outside their parents’ home, 22% were married and 17% had a child, per Bloomberg.

In 1980, 84% were living on their own, 63% were married and 39% had a child.

— unusual_whales (@unusual_whales) May 30, 2023

It took four years, but airport traffic finally returned to the summer of 2019 levels.

It took four years, but airport traffic finally returned to the summer of 2019 levels. pic.twitter.com/KHu5O5OBii

— Jim Bianco biancoresearch.eth (@biancoresearch) May 26, 2023

Europe's econ engine is breaking down: Germany is at risk of a long, slow decline.

Europe's econ engine is breaking down: Germany is at risk of a long, slow decline. Decades of flawed energy policy, demise of combustion-engine cars & sluggish transition to new technologies converging to pose most fundamental threat to nation’s prosperity since reunification, 1989-1991, .… pic.twitter.com/mGUyisjWea.  

— Holger Zschaepitz (@Schuldensuehner) May 26, 2023

Facing triple-digit inflation, Argentina introduces the new 2,000 peso note. It's only worth about $4.

Facing triple-digit inflation, Argentina introduces the new 2,000 peso note.

It's only worth about $4.

— unusual_whales (@unusual_whales) May 24, 2023

DIMON: EVERYBODY SHOULD BE PREPARED FOR HIGHER RATES FROM HERE

https://t.co/eRyDNxhcnS

Listen to this very, very carefully.
Translation: We're turning up the heat until the frogs are all boiled. Nice neck scarf, Chrissy. https://t.co/CD1YBrF0Cp

— Tom Luongo (Head Sneetch) (@TFL1728) May 22, 2023

It now costs nearly $1,000/month more to buy a house than to rent.

You can’t make this up:

1. Median Mortgage Payment: $2,800

2. Median Rent Price: $1,850

It now costs nearly $1,000/month more to buy a house than to rent.

Meanwhile, the average new car payment is now at $750/month.

The average interest rate on a used car loan just hit a…

— The Kobeissi Letter (@KobeissiLetter) May 22, 2023

Mortgage rates back to 7%.

Meaning that the cost to buy a house in America is now approaching $2,700/month when including mortgage, tax, insurance, and maintenance.

Meanwhile, cost to rent is $1,850.

Biggest gap we've ever seen. Something has to break. pic.twitter.com/gC1ffJXKmL

— Nick Gerli (@nickgerli1) May 22, 2023

The median price of a home sold in the US fell 4% over the last year, the largest YoY decline since 2012

The median price of a home sold in the US fell 4% over the last year, the largest YoY decline since 2012. pic.twitter.com/XqZr2a2ltn

— Charlie Bilello (@charliebilello) May 22, 2023

"retailer warnings . . . are . . . tied to #bankingcrisis . . . more than commercial real estate."

The real economy continues to reel. More retailer warnings going mostly unheeded which are absolutely tied to #bankingcrisis via more than commercial real estate. Foot Locker another one admitting spending way down/inventories way too much. https://t.co/QzdjY0u1ns pic.twitter.com/7bFi2kkgL9

— Jeffrey P. Snider (@JeffSnider_AIP) May 21, 2023

Staggering fact: US now spends more on debt servicing than national defense. The fiscal battlefield has shifted - it's not just about raising the ceiling, but curbing the rising tide of interest rates.

This was the exact threshold Paul Kennedy talked about in The Rise & Fall of Great Powers as the point at which virtually all of the nations he studied tipped into terminal decline. https://t.co/0RCuk5walM

— Martyr Made 🦉🪓 (@martyrmade) May 17, 2023

Industrial production lower than estimates from a year earlier. Retail sales lower than a year earlier

How’s that #ChinaReopening trade going?

“Industrial production rose 5.6% from a year earlier, lower than the 10.9% median estimate in a @business survey of economists. Retail sales climbed 18.4%, worse than forecasts for a 21.9% surge.” pic.twitter.com/GOI8YmGb2Z

— Danielle DiMartino Booth (@DiMartinoBooth) May 16, 2023

New York, San Francisco Office Buildings Are Absolute Ghost Towns

New York, San Francisco Office Buildings Are Absolute Ghost Towns https://t.co/2ru9PeL5uy

— zerohedge (@zerohedge) May 13, 2023

Biden forced millions of Americans to take VACCINES by threatening their JOBS, and turning EMPLOYERS into enforcers. Imagine giving Biden the ultimate on/off switch for EMPLOYMENT called E-verify. Might as well call it V-verify.

— Thomas

Republicans are about to make a huge mistake.

Biden forced millions of Americans to take VACCINES by threatening their JOBS, and turning EMPLOYERS into enforcers.

Imagine giving Biden the ultimate on/off switch for EMPLOYMENT called E-verify.

Might as well call it V-verify.

— Thomas Massie (@RepThomasMassie) May 7, 2023

No rent is being paid on 1/5 of all US office space, and small banks hold 70% of commercial real estate loans.

Empty real estate is a big problem.

No rent is being paid on 1/5 of all US office space, and small banks hold 70% of commercial real estate loans.

As cash flows from empty properties dry up, loans will be defaulted on — wiping out many of the small banks who wrote them: https://t.co/MZiyTiHCtz pic.twitter.com/wf3pjLGzb5

— Joe Consorti ⚡ (@JoeConsorti) May 11, 2023

Alaskan Trucking Fleets Promise $150K Driver Salaries Amid Drilling Boom

Alaskan Trucking Fleets Promise $150K Driver Salaries Amid Drilling Boom https://t.co/AcgMqKXUoV

— zerohedge (@zerohedge) May 7, 2023

Nearly 50% drop in used vehicle inventory since 2020 🥴 At least everyone will walk more...

Nearly 50% drop in used vehicle inventory since 2020 🥴 At least everyone will walk more... pic.twitter.com/IFJeJfZS81

— CarDealershipGuy (@GuyDealership) May 8, 2023

When lending standards tighten like this, unemployment follows

It's not different this time. When lending standards tighten like this, unemployment follows. pic.twitter.com/r3R1PIUC1p

— Jeff Weniger (@JeffWeniger) May 9, 2023

Borrowers whose student loan debt was suspended, used the increased debt capacity to borrow more.

Borrowers whose student loan debt was suspended, used the increased debt capacity to borrow more. Beautiful. Avocado on whole grain credit… toast https://t.co/2egwC0aopx pic.twitter.com/SRQYrsIGvu

— Michael Green (@profplum99) May 9, 2023

Cramer: "Commercial Real Estate isn't going to destabilize the system"

*WILLIAMS: FED IS VERY FOCUSED ON COMMERCIAL REAL ESTATE RISKS https://t.co/eOv8YRuhBO

— zerohedge (@zerohedge) May 9, 2023

Las Vegas leads in U.S. for evictions among major cities, data shows

Unfortunately, housing advocates told FOX5 that the problem is even much worse and will only keep growing. https://t.co/lIZGHjLZ37

— FOX5 Las Vegas (@FOX5Vegas) May 8, 2023

Another worrisome deflationary sign: used car prices are falling fast again.

Another worrisome deflationary sign: used car prices are falling fast again. They had rebounded (according to wholesale prices) to start this year sparking renewed "inflation" fears. Even if that was the case, did the banking crisis end it? Maybe. https://t.co/BHgicM2ZTj pic.twitter.com/9rFWEj7XM1

— Jeffrey P. Snider (@JeffSnider_AIP) May 8, 2023

Liberal Utopia: Two-Mile-Long Vehicle Encampment Spotted In [Marin County] California

Liberal Utopia: Two-Mile-Long Vehicle Encampment Spotted In California https://t.co/1XdbFTQKEu

— zerohedge (@zerohedge) May 8, 2023

IT’S A BUBBLE. An Airbnbubble. Airbnb listings in Dallas are up 619% since 2016 Most Airbnb listings are in a property portfolio managed by commercial “hosts”

IT’S A BUBBLE. An Airbnbubble.

Airbnb listings in Dallas are up 619% since 2016

Most Airbnb listings are in a property portfolio managed by commercial “hosts”

Almost half (45%) the listings are in a portfolio with 5+ home rentals  https://t.co/5GMBsCksAA

— Amy Nixon (@texasrunnerDFW) May 7, 2023

Among the 100 largest housing markets tracked by http://Realtor.com, only Austin saw active listings in April 2023 top April 2019.

You can find the data for the 100 largest markets below https://t.co/IG2uKv6lRz

— Lance Lambert (@NewsLambert) May 7, 2023

Industrial Production [in Germany] has plunged 3.4% MoM in March vs. -1.5% expected, mainly driven by a 6.5% slump in auto production.

Good Morning from Germany where Industrial Production has plunged 3.4% MoM in March vs. -1.5% expected, mainly driven by a 6.5% slump in auto production. Manufacture of machinery & equipment (-3.4%) & construction output (-4.6%) add to the significant decrease in total production pic.twitter.com/Hgi1MSC311

— Holger Zschaepitz (@Schuldensuehner) May 8, 2023

what homeowners “trapped” in a 2-3% mortgage rate looks like

This is what homeowners “trapped” in a 2-3% mortgage rate looks like pic.twitter.com/lM9NyGCeS4

— Ramp Capital Guy (@RampCapitalLLC) May 7, 2023

Stop looking at what they want you to look at -- runs on bank stocks that aren't in trouble -- ...and look at stuff that screams "Something is really wrong!"

Stop looking at what they want you to look at -- runs on bank stocks that aren't in trouble --
...and look at stuff that screams "Something is really wrong!" pic.twitter.com/bqjgJjqvHM

— Tom Luongo (Head Sneetch) (@TFL1728) May 5, 2023

According to Morgan Stanley HALF of the $2.9 trillion in commercial mortgages will need to be renegotiated in the next 24 months when new lending rates are going to be up by 350 to 450 basis points.

Commercial real estate is in trouble.

According to Morgan Stanley HALF of the $2.9 trillion in commercial mortgages will need to be renegotiated in the next 24 months when new lending rates are going to be up by 350 to 450 basis points.

AND vacancies are about to hit 20%. pic.twitter.com/rNJezuaTPC

— Genevieve Roch-Decter, CFA (@GRDecter) April 29, 2023