The Cynic: September 30

BUSINESS
This Week’s Business News

Hollywood just learned what a 100% import tariff looks like—and studio accountants just learned deep breathing.

President Trump said he would impose a 100% tariff on films produced overseas and shipped into the U.S., a move that could upend the industry’s global co-production model and raise costs for audiences. Details are hazy: it’s unclear what legal authority would be used or how a blanket rule would apply to projects stitched across multiple countries.

Analysts warn the costs likely get passed to consumers—because that’s what costs do—while unions have separately pushed for domestic incentives as a less chaotic fix.

Translation for moviegoers: the post-credits scene may soon feature your wallet.

Boeing says it’s heads-down on recovery—but yes, it’s peeking at a new single-aisle jet.

The planemaker stressed priorities like working through a ~6,000-jet backlog and certifying the 737-7, 737-10 and 777-9, while adding it’s always “evaluating the market” so it’s ready when “the time is right” to launch a new airplane.

Context: Airbus has led single-aisle orders since 2020 (A320 family ~4,540 net vs. 737 MAX ~3,300), so the “we’re watching” language doubles as competitive cardio.

In other words, Boeing’s message this fall: fix the factory, finish certifications, and keep an eye on Toulouse like it’s your ex’s Instagram.

Auto-sector bankruptcies are ringing a bell—and low-income borrowers are the ones hearing it loudest.

Two recent cases—auto-parts maker First Brands and subprime lender Tricolor—spooked parts of the ABS market, with spreads widening as investors reassessed consumer credit in lower-income and migrant communities.

Analysts say affordability got crushed by high rates, lingering used-car inflation, and policy shifts; delinquencies are rising from the bottom up even as the broader credit market looks stable.

Short version: when the monthly payment meets the grocery bill, the Camry loses.

INVESTING
This Week’s Investment

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REAL ESTATE
This Week’s Real Estate News

Compass is buying Anywhere—because in a slow market, you grow by eating your rival.

The all-stock deal values the transaction at about $4.2B, with Anywhere holders getting $13.01 per share (an ~84% premium) and the combined company slated to have ~ $10B enterprise value including debt. Closing is targeted for the second half of 2026.

Scale is the play: ~340,000 agents, added title/escrow/relocation revenue, and a bigger footprint to squeeze costs when sales volumes are meh.

Wall Street translation: fewer brokerages to complain about commissions; more synergies to argue about at happy hour.

America’s newest landlord? Your neighbor who couldn’t sell.

A wave of “accidental landlords” is swelling the single-family rental supply, helping cool rent growth—projected at ~0.8% in top markets this year—and squeezing corporate SFR operators on new leases.

More homes that didn’t sell are crossing over to rentals, especially in Sunbelt metros, which blunts renewal pricing power for the big guys (even if they can still nudge in-place rents).

Moral: the market finally found inventory—by shoving it into the “For Rent” column.

Meanwhile in the Hamptons, a house just went for almost $67 million—because someone really, really likes Lily Pond Lane.

An East Hampton oceanfront estate reportedly closed around $66.8M–$66.75M, one of 2025’s priciest deals out East after listing at $79.5M earlier this year.

It’s a reminder that ultra-prime markets obey their own gravity; mortgage rates matter less when your buyer pays in wire transfers and poetry.

For the rest of us: yes, that’s roughly 900 starter homes in the Midwest, or one driveway in East Hampton.

FUN
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ADVICE
This Week’s Business Advice

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