Among hotel properties with commercial mortgage-backed securities debt, the delinquency rate was 6.59% in July — up slightly from the 6.17% posted within the sector in July 2024 but still lower than the 6.9% delinquency rate recorded among retail properties in July 2025 and 11.04% within office real estate that same month.
NYC Rent Stabilized
Sales for New York City’s rent-stabilized multifamily properties with 10 or more units have declined since 2019, when rent laws restricted many owners looking to raise rents on over one million rent-stabilized apartments. Many listings across the city are also staying on the market for weeks longer than what is considered typical, prompting owners to cut prices by 10% on average.
Margin Borrowing
Margin borrowing is at an all-time high as of July, and topped $1 trillion for the first time ever as of June.
Top 400 Taxes
The Forbes 400 list of the wealthiest Americans paid 23.8% of their economic income in taxes from 2018 to 2020. Of those taxes, 37% come through corporate taxes, with the bulk of the rest from individual income and payroll taxes.
Ethereum Activity
Activity on Ethereum amounted to more than $1.2 trillion this year, compared with $960 billion during the same time frame last year. Most of the transactions involve tether and USD Coin, the two largest dollar-pegged stablecoins, as well as deposits and withdrawals to major exchanges such as Binance and Coinbase.
Mortgage Rates
The 30-year mortgage rate hit a low for the year last week at 6.58%.
Restaurant Traffic
Traffic to U.S. restaurants has fallen 1.7% so far this year, and is down 2.7% for fast-food eateries.
Debt Consolidation
Personal-loan originations jumped 18% in the first quarter from a year earlier, bringing total balances to a record $257 billion, but relief can be temporary. A separate study found that while borrowers who consolidate card debt into personal loans initially reduce their card balances by an average of 57%, many refill those cards within 18 months.
Residential Moves
In the 1950s and ’60s, some 20% of Americans would typically move each year. By 2019, the year before the Covid pandemic, 9.8% of Americans moved. During Covid, there was a well-publicized brief surge. In 2023, only 7.8% of Americans moved, the lowest rate logged since U.S. Census records began in 1948. That figure held relatively steady in 2024, the most recent data available.
Hotel Industry Growth
The U.S. hotel industry started the year with a growth projection of +1.8 percent but is now revised to +1 percent for the year due to underperformance and elevated macroeconomic concerns.