Only 30% of the federal government’s $1.7 trillion student-loan portfolio is currently being repaid. Among the delinquent student borrowers, 38 percent now have an auto loan, up from 30 percent before the pandemic and the share with a mortgage has nearly doubled, rising from 8 percent in 2019 to 15 percent in 2025.
Senate Housing Bill
At least $3.4 billion of investment for build-to-rent projects is frozen in place, according to an early survey of 14 build-to-rent firms. That translates to about 10,000 units of housing and it is likely just a sliver of the impact across the entire build-to-rent industry, which includes more than 1,700 firms.
Earnings and Sales
Year-over-year growth in earnings per share is expected to exceed 13% for the sixth quarter running. Sales are expected to rise more than in any quarter since the fall of 2022.
BDC Sell Off
As sentiment toward private credit began to shift last year, shares of many publicly traded BDCs sold off, trading below their stated net asset value. But the price at which investors can enter or exit nontraded funds has changed very little, thanks to a difference in structure. Some investors are pulling their money from the nontraded BDCs after seeing that comparable public funds are trading at a steep discount.
Home Sales
Homes that went under contract in March sold in a median of 19 days, creating a 37-day gap from the 56-day typical listing time. The 37-day gap in days on the market for homes sold versus all homes listed was the widest for any March since 2020.
Office Vacancy
Vacancy for premium Midtown office space fell to 16.4% in the first quarter, from 22.3% two years earlier. The U.S. office vacancy rate, meanwhile, rose to 22.8% from 22.1% over the same period.
Rate Cut Futures
Before the war, interest-rate futures suggested that traders saw a 79% chance that the Fed would cut rates at least twice this year. Now, that percentage has dropped to 11%. Traders view it roughly as a tossup whether the central bank cuts rates at all by the end of December.
NYC Housing
A New York City affordable-housing program offers tax breaks with easier rules for residential projects under 100 units. New York City apartment developers are splitting large projects into 99-unit segments to dodge harsher rules for new incentives.
Unemployment
Over the past 12 months, unemployment among college-educated workers 34 and under has converged—and now surpassed—the 4.1% rate for people with two-year associate degrees.
Storage Users
More than 12 percent of American households, a record high, stash their overflow in rented storage spaces.