At Colliers, we understand the importance of interconnected data, macroeconomic trends, and anecdotes in real estate decisions. With that in mind, here are 10 numbers and trends that have recently caught our attention:

• The Fed cut its overnight borrowing rate for the first time since March 2020, reducing rates by 50 basis points, and sees more cuts coming.
• Household debt rose 4.3% over the past year to a record $17.8 trillion, per the New York Fed. Credit cards and HELOCs have grown more quickly, up 10.8% and 11.8%.
• Car repossessions increased 14% in the first half of the year compared to the same period in 2019, per Cox Automotive.
• Synergy Research Group notes that hyperscalers account for 41% of global data center capacity and estimates that this figure will top 60% by 2029.
• The spread between the 2-year and 10-year Treasury flipped from inversion earlier this month.
• Bloomberg reports that private credit has grown into a $1.7 trillion asset class.
• There were 7.7 million open jobs in the U.S. economy as of July, 1.1 million less than one year ago, per BLS data. This translates into 0.9 jobs per unemployed individual, similar to pre-pandemic averages.
• TSA screenings remain on an upward trajectory, with an average of 5% more passengers over the past 30 days than at this time last year.
• Trepp reported the special servicing rate for CMBS rose in August. Multifamily has hit 5.71%, the highest since December 2015.
• The Wall Street Journal reports Gen Z will make up a larger share of the workforce than Baby Boomers this year.