Applications to refinance a mortgage have collapsed by 86% from a year ago 🚨

Refinance mortgage volume has died ☠️

Applications to refinance a mortgage have collapsed by 86% from a year ago 🚨

Raising rates has consequences.
But don't worry, the Fed is going even higher. 🔥

They want you unemployed and homeless, THEN they might consider cutting rates. pic.twitter.com/aQR4FbOlBG

— Wall Street Silver (@WallStreetSilv) January 11, 2023

AUSTIN, TEXAS HOUSING PRICES: Down 21% in 6 Months

Austin, Texas Housing Prices Are Crashing Fast
- Down 21% in 6 months 🔥🔥🔥

Is this spreading to other areas in the coming months?
What does you area look like? pic.twitter.com/n6n5Yk9AtL

— Wall Street Silver (@WallStreetSilv) January 7, 2023

8.2% jump in November of Deep Subprime borrowers . . . are 60 days past due

We’re getting closer to a big wave of auto repossessions.

November auto loan data shows a *very notable* jump in percent of Deep Subprime borrowers that are 60 days past due 🥴 (8.2%, to be exact!)

Here’s the breakdown:

— CarDealershipGuy (@GuyDealership) December 26, 2022

Buy an Oil Tanker

The deuce you say? Who couldn't see this coming?   https://t.co/CPkc0cHvCn

— Tom Luongo (Give Deflation a Chance!) (@TFL1728) December 6, 2022

% Increase over the last 3 years... US Money Supply (M2): +40%. US Home Prices (National Index): +41%

% Increase over the last 3 years...
US Money Supply (M2): +40%
US Home Prices (National Index): +41%

Coincidence?

Charting via @ycharts pic.twitter.com/JmJz5OTQpw

— Charlie Bilello (@charliebilello) November 29, 2022

Used car prices are now down 14% over the past year, the largest YoY decline on record with data going back to 2009

Used car prices are now down 14% over the past year, the largest YoY decline on record with data going back to 2009. This was a leading indicator of higher inflation rates in 2020 and the recent downturn is likely a leading indicator of lower inflation rates to come. pic.twitter.com/N1e7v9ZNjM

— Charlie Bilello (@charliebilello) November 18, 2022

The collapse in the freight market has created a scenario where spot rates are below truckload carrier operating costs - we could see a massive purge of capacity over the next two quarters.

Have seen this movie before, small carriers get flushed out. Market bounces back and rates go through the roof with limited capacity available.

Havent seen rates this cheap in years

— El Jefe (@___El_Jefe_) November 18, 2022