Market News

Caesars Entertainment paid roughly half of a $30 million ransom that hackers demanded after a cyberattack late this summer, another example of a major casino operator suffering from an attack as MGM Resorts grapples with the fallout of a recent incident.

Americans’ inflation-adjusted median household income fell to $74,580 in 2022, declining 2.3% from the 2021 estimate of $76,330. The amount has dropped 4.7% since its peak in 2019.

Overall options activity has smashed records in each of the past three years. About 44 million options contracts have changed hands each day so far this year, on average, an 8% bump from last year and more than double the figure in 2018.

Since 2019, rental prices have increased more in Miami than in nearly any other major metro area, soaring 56.5%.

Investors put $33 billion toward U.S.-based venture capital funds in the first half of 2023, less than half the $74 billion in the same period in 2021. Global fundraising for all private funds fell 10% last year to $1.5 trillion.

The volume of commercial property sales in July was down 74% from a year earlier, and sales of downtown office buildings hit the lowest level in at least two decades.

The five largest single-family-home rental landlords increased their annual fee income per lease by about 40% between 2018 and 2021

The Mortgage Bankers Association predicts commercial-property lending will have fallen 38% by the end of this year, when compared with 2022.

A record $205.5 billion of cash is earmarked for investment in U.S. commercial real estate.

Private equity firm KSL said it intends to buy Hersha Hospitality Trust, the owner of 25 U.S. lifestyle and luxury hotels, in an all-cash transaction worth about $1.4 billion. The move would take private Hersha at an approximately 60% premium to the real-estate investment trust’s closing stock price on Friday. Its value was 14 times Hersha’s estimated year-to-date EBITDA of $99 million for 2023.