U.S.-based employers announced 1.2 million job cuts in 2025, the highest annual figure since 2020, with tech and warehousing sectors leading.
Olympian Funding
Financier Ross Stevens will give $200,000 to each U.S. Olympic and Paralympic athlete, regardless of performance. Half will come 20 years after their first qualifying Olympic appearance or at age 45, whichever comes later. Another $100,000 will be in the form of a guaranteed benefit for their families after they pass away.
Student Loan Defaults
More than 42 million Americans hold student loans with around 9 million people currently in default on their education debt. The outstanding debt currently exceeds $1.6 trillion.
Hotel Top Markets
Among all U.S. markets, New York City and Phoenix are set to open the most hotel rooms in 2026. Top markets by projected 2026 room openings are: New York City with 4,852 rooms, Phoenix with 3,650 rooms, Dallas with 3,558 rooms, Orlando with 1,988 rooms, Miami with 1,954 rooms.
Private Credit Returns
Total returns from five of the largest private-credit funds aimed at individual investors declined to an average of about 6.22% in the first nine months of 2025, compared with 8.76% in the same period of 2024 and 11.39% in 2023.
Construction Outlook
Higher interest rates, steeper material prices and a tight labor force provide significant headwinds to new construction this year. Spending to build offices, hotels, apartment buildings and warehouses is projected to fall in 2026. But data centers, sought by large tech companies to run artificial-intelligence platforms, are a bright spot with spending forecast to increase 23%.
Institutional Residential
Wall Street’s presence in the housing market expanded after the subprime mortgage crisis exploded in 2007. But institutional investors have never owned more than a small slice of the overall housing market: around 2% to 3%.
Wealth Transfer
Americans with a net worth of more than $5 million are expected to pass down about $17.3 trillion over the next decade.
Multifamily Rents
The rate of multifamily rent growth was flat in 2025 compared to the year before. Though rent growth strengthened in the first part of the year, those gains were erased by weaker performance at the end of the year.
Home Values
53% of U.S. homes have lost value in the last year, the most since 2012. Southern and Western cities saw steepest declines; Northeast remained stable. Even so, home prices are projected to rise 4% in 2026 despite increased inventory.