Alternative Investing Report - April 14, 2026

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*as of 4/13; Sources: S&P, BTC, FTSE, DJRE, CL50

Looking at a number of factors, including how many people compete for each apartment, lease renewal rates, and vacancy rates, RentCafe’s Rental Competitiveness Index (RCI) measures the state of the U.S. rental market. The current RCI is 75.4, down slightly from last year’s 75.7, but above the threshold of 70 that indicates a competitive market. While Miami remains the most competitive rental market in the country, Chicago, San Francisco, and Atlanta saw the highest year-over-year changes. Meanwhile, a look at the riskiest markets for investors based on unemployment rates and foreclosure activity found that Riverside, CA is the riskiest large market in the country. Other areas performing poorly can also be found in Louisiana and Florida.

➨ TAKEAWAY: The Midwest ranks as the most competitive regions for renters, with half of the top 20 markets, and also ranks as the least risky region overall. Investors, particularly those who are investing in out-of-town markets, need to look at all of these factors carefully when deciding where to put their capital. In the long-run, properties in markets with more rental demand and steadier economies are likely to outperform properties that might look better on paper.

In the newest episode of Smart Humans, Slava Rubin talks with Skybridge’s Anthony Scaramucci about the current macroeconomic environment, investment strategies, and specific stock and crypto picks.

💵 Redemption requests: Investors attempted to withdraw more than $20 billion from private credit funds in Q1, as concerns over the asset class mount. Only half of those requests were honored, with firms such as BlackRock, Apollo, Ares, and Blue Owl limiting withdrawals, pushing requests forward to Q2.

🪙 Crypto fraud hits new high: Losses due to crypto-related fraud hit a record-high of $11.4 billion in 2025 in the U.S., a 22% increase over the year before. Americans over 60 year of age reported $4.4 billion in losses, the most of any age bracket, and a 56% gain over the year before.

🚀 Fintech funding rises: Global venture funding for fintech startups reached $12 billion in Q1, a 5% increase year-over-year, but deal count fell by more than 30%, indicating a concentration of capital in larger, late-stage companies. One example was the biggest raise of the quarter - prediction market Kalshi’s $1 billion megaround.

🏡 Existing home sales fall: Sales of existing homes fell 3.6% in March and 1% year-over-year, as mortgage rates rose and concerns over job numbers and the Iran War affected the real estate market.

🏌️‍♂️ Masters gnome sale: Since 2016, the world’s most prestigious golf tournament has sold garden gnomes in its gift shop, which immediately get sold on secondary markets for well above the original price. An original 2016 gnome just sold on Golden Age auctions for just under $30,000, a pretty good return for a $35 purchase ten years ago.

🎨 Enrico Donati auction: The personal collection of the Italian Surrealist is going up for auction at Sotheby’s next month, and includes his own work, as well as a Picasso estimated to sell for $40 million, a Kandinsky with an $18 million estimate, and other blue-chip items.

Looking for an easy commute to Burning Man? A 615-acre stretch of land in the Nevada desert that borders the site of the annual hipster/techbro festival opens for auction on Thursday and closes on April 28. Located in Gerlach, NV, the undeveloped property features geothermal activity and water resources, and can be acquired as one parcel, or split into three. The entire property can be bought immediately for $20 million, but bids are expected to start at $10 million. The most logical buyer is Burning Man itself, though a hospitality group looking to set up wellness retreats or high-end eco-friendly lodging could also enter the mix.