Investor Index 7.25.25
Single-Family Housing Starts Dip; Multifamily Starts Jump
In June 2025, total U.S. housing starts climbed to a seasonally adjusted annual rate of about 1.32 million—slightly above consensus forecasts—driven by a sharp 30% surge in multifamily starts, while single‑family starts slipped for the fourth straight month, weighed down by affordability constraints, rising material costs, elevated inventories, and resale competition. Single‑family completions also dropped 12.5% from May, tightening supply further in an already constrained market. Builder sentiment remained negative for a 15th month, though optimism modestly improved for sales and conditions. Meanwhile, the months‑supply of new homes rose to 9.8 months in May—well above the long‑run average—and multifamily’s rebound remains volatile, though notable as a countertrend amid single‑family weakness
TriMet to cut service 10% amid budget shortfall
Portland’s transit agency, TriMet, has announced it will reduce overall bus and MAX light rail service by at least 10% over the next two years in response to a projected $300 million budget gap caused by the Oregon Legislature’s failure to pass House Bill 2025, which would have boosted transit funding. Starting in November 2025, frequency reductions will impact some frequent bus lines—particularly evening and morning service on the FX2‑Division—and at least eight other bus routes. If additional revenue isn’t secured by fall 2027, deeper reductions beyond the 10% target will follow, including further cuts to MAX and bus service and at least 140 operator positions will be eliminated alongside administrative and maintenance staffing reductions. The agency is considering fare increases and seeking increased payroll tax funding, while Governor Tina Kotek has called a special legislative session in August to address transit revenue needs. These cuts are projected to save approximately $159 million, but an additional $48 million in reductions may be required if new funding fails to materialize.
Full Article: https://www.axios.com/local/portland/2025/07/24/trimet-to-cut-service-10-amid-budget-shortfall
Consumer sentiment inches up in July as inflation expectations improve
In July 2025, U.S. consumer sentiment edged up modestly to 61.8, marking a five‑month high, as year‑ahead inflation expectations eased for a second straight month—from 5.0 % in June to 4.4 %, the lowest level since February. Meanwhile, long‑term expectations dropped to 3.6 %, the lowest in five months. Although sentiment improved slightly, overall confidence remains well below historical norms and significantly lower than the December 2024 peak—amid ongoing caution tied to inflation risks, trade policy uncertainty, and subdued outlooks on personal finances and business conditions.
Full article: https://chainstoreage.com/news-briefs/2025-07-23?article=consumer-sentiment-inches-july-inflation-expectations-improve