Blackstone is set to acquire the 277-room Four Seasons hotel in downtown San Francisco for approximately $130 million.
Builders’ Mortgages
People who borrow from a builder are more likely to overpay for their property and be underwater after they move in.
Consumer Sentiment
Consumer sentiment declined in November, with the index falling from 53.6 to 50.3. The reading is now just slightly above the levels that sentiment sank to amid the historic inflation that hit in 2022 during the Covid-19 pandemic, making it among the lowest results recorded in the survey’s decades of history.
Luxury Hotels
The average daily room rate at a U.S. luxury hotel is a record high at $394 this year. It is also $168 more than the average cost for a room in the next-priciest tier. The divide has been widening since 2008, when the difference was $60, but it has grown sharply in recent years to its largest ever.
Americans Wealth
Americans gained more than $63 trillion dollars in wealth from the first quarter of 2020 through the second quarter of 2025, according to the Federal Reserve. Real-estate wealth rose more than 61% during that span, while wealth from stocks and mutual funds went up 127%.
BX Senior Housing
Real-estate giant Blackstone is liquidating a major investment gone wrong: a $1.8 billion wager on senior housing that has saddled the firm with more than $600 million in losses. It is shaping up to be one of the New York firm’s worst investments in recent years. The firm also said its losses were part of a $33.5 billion fund that otherwise had strong performance, nearly doubling investors’ capital.
Job Cuts
Year to date, employers have announced 1,099,500 job cuts, up 65% from the first ten months of last year.
Data Centers
Recent federal data put domestic Data Center development at $41 billion in annual investment, but estimated roughly 72% of all server-farm capacity sat in just 1% of counties as of July.
Top Earners
The top 10% of earners accounted for 49.2% of national spending in the second quarter of 2025, a record high, with their spending up 4.4% year-over-year.
Adjustable Rate Mortgages
About 10% of purchase-mortgage applications were for ARMs in the week ended Oct. 3, the highest rate since 2023. In early 2021, when mortgage rates were near historic lows, less than 3% of purchase applications were for ARMs.