The $85 billion merger deal between Union Pacific and Norfolk Southern joins 50,000 miles of railroad tracks that span from the Jersey shore to the ports in California. The union would create a single company controlling coast-to-coast rail shipments for the first time in U.S. history.
Home Investors
So far in 2025, investors who buy homes to flip or rent out have made up about 30% of purchases of both existing and newly built single-family homes, the highest share on record. Small investors made up about 25% of these home purchases while large investors accounted for only about 5%.
Airbnb Experiences
Airbnb is making a renewed push into what it calls Experiences and Services—its second attempt after a 2016 effort failed to gain traction.
Affordable Housing
The Trump administration is proposing a $27 billion reduction in federal programs that provide rental assistance to low-income individuals. This cut would be part of an overall 44% reduction to HUD’s budget intended to slim down government spending.
World Economy
The world economy grew at a 2.4% annual rate in the first half of this year, around its longer-term trend.
NAR Commissions
A $418 million settlement by the National Association of Realtors last year came in response to a wave of class-action lawsuits in which plaintiffs charged the NAR’s practices unfairly forced home sellers to pay inflated commissions to buyer agents. A recent study found the national average for real estate commissions on the sale of a home was 5.44%, which was up from a 5.32% average in September 2024.
Boomer Homes
About 43% of baby boomers say they will never sell their home, the highest of any generational group. The biggest single reason cited for staying in place is that their home is almost or completely paid off, while others say they like where they live. About 30% say they are staying in their current home because prices are too high and 18% said they are staying because they don’t want to give up their low mortgage interest rate.
Venture Deal Flow
U.S. venture firms invested $69.9 billion across an estimated 4,001 deals, a 25% decline in deal value compared to the previous quarter. Artificial intelligence, national security, defense tech, fintech and crypto — all sectors aligned with the priorities of President Donald Trump's administration — are attracting outsized interest from investors.
401(k) Assets
U.S. defined-contribution plans held $12.4 trillion in assets at the end of 2024.
NYC RevPAR
New York City hotels averaged an occupancy rate of 82% a week for roughly the first half of the year. That is on par with last year—and nearly 20 percentage points higher than the national rate. Revenue per available room is at $238.93 was well above the national average figure of $99.94.