
Happy Monday. The Midwest leads the top housing markets, universities are rethinking private equity, consumer sentiment plummeted, and there’s a new EV startup in town. Let’s dive in!
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📈 WEEKLY MARKETS

*as of 4/27; Sources: S&P, BTC, FTSE, DJRE, GOLD
🏡 HOUSING MARKETS
Toledo, OH, jumped to #1 in the newest WSJ/Realtor.com rankings of the best housing markets in the U.S., based on demand, price growth, and quality of life metrics. Ohio placed three cities in the top six, and the Midwest took up 17 of the top 20 spots, with the Northeast grabbing the remaining three. On the flipside, metro areas in Texas and Florida litter the bottom of the rankings, with high inventory and low buyer demand. This tracks with new data on housing prices, which found year-over-year price declines in multiple markets in those states.
➨ TAKEAWAY: The combination of affordability, strong labor markets and low climate risk is drawing buyers to the Midwest. For example, Toledo’s median listing price of $235,000, is nearly $200,000 lower than the U.S. median. The three Northeast markets (Hartford, CT, New Haven, CT, and Worcester, MA) that cracked the top 20 are more expensive, but affordable compared to neighboring cities. People still want to buy houses, but with prices in many cities growing unaffordable, more affordable markets are benefiting - until the growing demand drives their prices up as well.
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💵 SELLING PE STAKES
Yale University is looking to sell up to $6 billion of its private equity holdings on the secondaries market, an allocation representing 30% of its private equity holdings and 15% of the total endowment. Meanwhile, fellow Ivy League university Harvard is also exploring selling some of its private equity holdings, reportedly $1 billion.
➨ TAKEAWAY: Both universities are seeking liquidity as lower recent endowment returns and university funding pressures from the Trump administration stress their finances. Yale’s $41 billion endowment consists of 95% alternative assets, while Harvard’s $53 billion endowment has 40% allocated to private equity alone. The lack of recent private equity distributions is taking a toll, and the steps Harvard and Yale are taking could be reflective of a broader trend away from the asset class. It could also mean that deals could be found on the secondaries market as other holders seek liquidity at a discount.
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📰 NOTABLE NEWS
📊 Consumer sentiment falls: The consumer sentiment index fell to 52.2 in April, down from 57 in March, and has now dropped 32% in 2025, the biggest decline since 1990. This decline is largely due to concerns over tariffs and inflation, and could cause significant damage to the economy going forward.
🛻 Affordable EV truck: Slate Auto, a new electric vehicle startup backed by Jeff Bezos, unveiled a new, low-cost electric truck that will get into customers’ hands in 2026. Built in the US, the highly customizable truck has a base price of $20,000 and is being positioned as a direct competitor to Tesla’s CyberTruck.
⚾ T206 Wagner sale: One of the few T206 Honus Wagner cards in existence sold over the weekend for $1.98 million, just above the $1.97 million it sold for in 2023, continuing the card’s streak of never publicly selling at a loss.
🚀 Flow doubles valuation: Former WeWork CEO Adam Neumann’s new proptech startup raised a $100 million round at a $2.5 billion valuation, a big jump from its $1 billion valuation in 2022.
🎨 Turner prize nominees: The four nominees for the top British art prize include Rene Matić, the youngest nominee since Damien Hirst in 1995, and nonverbal autistic Scottish sculptor Nnena Kalu.
📩 Titanic letter: A letter written by a survivor of the shipwreck sold for a record-setting $399,000, nearly five times the pre-sale estimate, as the doomed ship continues to hold a place in pop culture.
📆 LOOKING FORWARD
This week: More than one-third of S&P 500 companies release quarterly earnings, including Microsoft, Apple, Meta, and Amazon.
Tuesday: S&P Case-Shiller home price index and FHFA house price index released; Consumer confidence report released.
Wednesday: Personal Consumption Expenditures (PCE) and Core PCE indices, the Fed’s preferred inflation metrics, will be released; Pending home sales data released.
Friday: U.S. unemployment rate released; Roger Maris game-worn jersey from his record-breaking 1961 season to be sold at Sotheby’s with an estimate of $1 million - $2 million.