Alternative Investing Report - October 10, 2025

*as of 10/9; Sources: S&P, BTC, FTSE, DJRE, 30YM

According to Redfin, new listings of U.S. homes are up 2.3% year over year, the biggest increase in four months, but pending sales are down 1.3%, the biggest decline in five months, meaning the level of inventory is rising. Realtor.com pegs the jump in inventory at 15.1% year-over-year, with nearly two straight years of inventory gains. And the number of newly completed single family homes unsold has hit the highest level in 16 years.

➨ TAKEAWAY: It’s been clear that most parts of the country have entered a buyer’s market, but even with prices mostly flat and supply increasing buying demand has not increased. The Redfin Homebuyer Demand Index was down 1% for the month and 13% year-over-year. It’s possible that with more interest rate cuts likely on the horizon that potential buyers are waiting even longer to wait for rates to drop, but it could benefit people to make a move now with less competition and plenty of choices.

🤖 AI bubble warning: Adding to the chorus of others also concerned about an potential AI bubble bursting, the Bank of England warned that valuations of AI companies are getting too frothy and there could be a “sharp market correction” if traders begin to get more bearish on AI.

🏢 Loan modifications rise sharply: The value of modified commercial real estate loans hit $27.7 billion in Q2, a 66% year-over-year increase, as interest rates remain too high for borrowers to refinance. This situation has left modifications like delaying payments and extending current terms, as the best option for distressed borrowers.

🎻 Einstein’s violin: An 1894 Zunterer violin that once belonged to Albert Einstein sold for around $1.46 million after fees, nearly four times the pre-sale estimate, showing the value of provenance for rare items.

📊 Powell misses speech: Fed Chair Jerome Powell was expected to make a speech today but instead just offered a pre-recorded welcoming remark that did not touch on monetary policy, disappointing traders who had hoped to glean information.

🚀 Stoke Space fundraise: The reusable rocket startup raised a $510 million Series D round at a valuation of around $2 billion, more than double its last valuation from earlier this year.

🎨 MacArthur genius grants: A number of artists, including Garrett Bradley and Gala Porras-Kim, were among the 22 people who were awarded the coveted grants, which come with a stipend of $800,000 over five years and significantly raise the profile of the winners.

Monday: 💵 Private market investing, 🪙 Bitcoin all-time high
Tuesday: 🚀 VC funding, 🪙 Record crypto inflows
Wednesday: 💰 Gold hits $4K, 🚀 Cerebras pauses IPO
Thursday: 🏢 Apartment rent falling, 🚀 Legal tech funding

Have a great weekend!