And it’s structural. Variable-rate CRE mortgages and much higher rates just speed up the process. By Wolf Richter for WOLF STREET. After blowing through the pandemic with no more than a squiggle, the delinquency rate of Commercial Mortgage-Backed Securities (CMBS) backed by office…

Crime statistics for 2022 show violent and property crimes increasing year-over-year in California, according to an Attorney General report released June 30. With crime increasing across many categories, homicide and driving under the influence arrests each decreased 5.9 percent and…

Would-be homebuyers are willing to take on sharply higher mortgage payments, even as home prices have begun to pull back this year. The median monthly payment listed on applications for home purchase loans jumped 14.1% in May from a year earlier…

New data show that a growing number of U.S. firms are collapsing under the weight of higher interest rates as corporate bankruptcies reached their highest first-half levels since 2010. In the first six months of 2023, there were 340 corporate…

Dutch Prime Minister Mark Rutte announced his resignation Friday because of a dispute in his ruling coalition about how to rein in migration. The Netherlanders are a rather dramatic sort, organizing their system of governance on coalitions of various shades…

The BRICS countries could soon launch a viable alternative to the U.S. dollar, Russia confirmed this week. What Happened: Brazil, Russia, India, China and South Africa, a coalition of nations going by the moniker BRICS, is set to introduce a new…

The United States dollar (USD) could suffer another huge blow that could send it down the drain as heads of the Shanghai Cooperation Organization (SCO) member states have made a landslide decision to conduct the majority of transactions in national currencies instead…

By J. Peder Zane, American Greatness It’s time we had a courageous conversation about the left’s incoherent stance on big government and race. This muddled mindset was on full display last week as two progressive Supreme Court justices, Sonia Sotomayor…

When Silicon Valley Bank went bankrupt in March, Dhaval Joshi, BCA Research’s chief strategist, told the Guardian it “presages an economic recession that is more imminent than many people anticipate.” His prediction was one of many at the time, as experts hotly debated when…

Cash-strapped Americans are panic-searching “pawn shop near me.” The search trend spiked to a record high at the start of July and is an ominous sign the consumer might be pawning items or selling things that were possibly bought during…

Americans have burned through a staggering $1.76 trillion in savings since 2020, according to new consumer data. Stats from the Federal Reserve show Americans reached a peak of $2.3 trillion in savings between 2020 and 2021. Today, that number is down to…