The 24 Bigger Cities where Condo Prices Have Dropped by 12% to 29% through October. The Condo Bust deepens and spreads to more cities, unwinding some mindboggling Condo Bubbles https://t.co/BRrCWdLOtT

Treasury Market Scuttles Hope for December Rate Cut, Doubts January Cut, after Hawkish Fed Minutes. “Many participants suggested that … it would likely be appropriate to keep the target range unchanged for the rest of the year” https://t.co/zFL6nhRfmx

Social Security Fiscal Year 2025: Trust Fund Balance, Income, Outgo, Deficit, and Interest Rates. The deficit doubled, as benefit payments spiked in part due to the expansion of Social Security, while income rose only slowly https://t.co/SEdMytvNy5

Construction Spending on Data Centers, Factories, Powerplants, and Office Buildings: Boom at One End, Bust at the Other End. But spending on factories dwarfs spending on data centers https://t.co/YrnPTM6xmt

The Most Splendid Housing Bubbles in America: Price Drops & Gains in 33 Large Expensive Metros in October 2025 Prices fell year-over-year in 22 of the 33 metros. In 9 of the 33, prices rose to new highs https://t.co/KHI7B4rj7h

Government Sold $694 Billion of Treasuries this Week, Debt Hits $38.2 Trillion, Treasury Yields Rise Further, Shift to T-Bills Begins. Long-term Treasury yields under pressure, amid large auctions of notes and bonds, despite shift to T-bills https://t.co/wubI8srzuE

Data Fog Engulfing October due to Government Shutdown May “Never” Be Fully Lifted. Survey-based data doesn’t exist because the surveys were not conducted in October. But data that companies electronically submitted exists https://t.co/8s1m22aK4C

A 50-Year Mortgage Does Nothing for “Affordability,” Is a Terrible Deal for Homeowners and a Superb Deal for Banks & Investors Monthly payment of a 50-yr mortgage of $500,000 would be only $91 lower than 30-yr mortgage, but homeowners crushed by interest https://t.co/NHnHRDbBmY

Entire Treasury Yield Curve from 3 Months to 30 Years Has Risen since Fed’s Rate Cut. Mortgage Rates too. Bond Market Edgy about Inflation & Supply. The 6-month Treasury yield sees Fed on hold in Dec. Cutting rates as inflation accelerates https://t.co/1nYxLIEsR3

Here Come the HELOCs: Mortgages, Housing-Debt-to-Income-Ratio, Serious Delinquencies, and Foreclosures in Q3 2025. Banks are mostly off the hook this time; risks were shifted to taxpayers and investors https://t.co/E1Kk3FhE7V

Fed Balance Sheet QT: -$14 Billion in October, -$2.39 Trillion from Peak, to $6.57 Trillion, Standing Repo Facility Back to Zero. SRF did its job. Month-end repo market turmoil, exacerbated by effects of government shutdown, has settled down https://t.co/f1mbWC7oUo

CarMax Enters our Imploded Stocks, -80% from peak. Used-Car Dealers Face Reckoning after Jacking Up Prices by 55% in 2 Years. Consumers have had it with high prices. In addition, these dealers have company specific issues https://t.co/CLD0EpZTmM

Household Debts, Debt-to-Income Ratio, Delinquencies, Collections, Foreclosures, and Bankruptcies of our (not so) Drunken Sailors in Q3 2025. The long-defaulted federal student loans were pulled out of the forbearance closet https://t.co/JCcs6aKSIp

US Government’s Net Cash from Tariffs Jumps to Record $32 Billion in October. The Supreme Court could strike down a portion of the tariffs, but the Administration sees similar tariffs under different Acts. “You should assume they’re here to stay”: Bessent https://t.co/VeSOPZzCrS

Private-Sector Job Growth Lumbers Along after Getting Hammered by the 2024 Benchmark Adjustments in Sep & Aug. ADP Employment Report: +42,000 Jobs in October; wages +4.5% for “Job Stayers” and +6.7% for “Job Changers” https://t.co/zovnBd9pZA

Who Takes the Losses on Office CRE? Here’s an Example: the Bankruptcy of Office Properties Income Trust. Shareholders got wiped out, noteholders take losses and get the company, banks appear to be largely unscathed https://t.co/4epNGN6ACQ

Office CMBS Delinquency Rate Hits Record 11.8%, Much Worse than Financial Crisis Meltdown. Multifamily Delinquencies Soar to 7.1%. Data via @TreppWire CRE loans on office and multifamily properties got further bludgeoned in October https://t.co/Ht0UtMBL9E

Banks Borrow Record $50 Billion at Fed’s New SRF amid Hot Repo Rates, ON RRPs Spike to $52 Billion in Opposite Direction Month-End Liquidity-Palooza: Banks finally used the new improved SRF the way the Fed exhorted them to use it to keep lid on repo rates https://t.co/lKftKCyCIZ