Home Blog

Commercial and multifamily mortgages cross $5 trillion outstanding



After producing $26.3 billion in new commercial and multifamily mortgage debt in the first quarter of 2026, the industry’s total amount of mortgage debt outstanding rose to $5.02 trillion, according to data from the Mortgage Bankers Association.

Processing Content

The industry association said total multifamily mortgage debt alone increased by $23 billion, or 1% in Q1, representing a $2.32 trillion increase from Q4 2025, the MBA said.

It is “a milestone that speaks to the resiliency and depth of commercial markets,” according to a statement from Reggie Booker, the MBA’s associate vice president of commercial research. “Agencies, GSEs, and banks steadily expanded their holdings. Despite modest pullback in CMBS, the overall picture is one of a market that continues to move forward.”

As an investor group, commercial banks held the largest share of commercial or multifamily mortgages, with $1.9 trillion, or 38%, the MBA said. Agencies and GSEs followed, with $1.2 trillion, or 23%.

Life insurance companies and commercial mortgage-backed securities, CDs and other ABS issues hold $775 billion and $637 billion, respectively, representing 15% and 13% of the total, respectively.

For the multifamily mortgage sector alone agency and GSE, and GSE portfolios dominate holdings, with $1.2 trillion total multifamily debt outstanding, or half. Banks and thrifts followed, with $665 billion, or 29%, the MBA said.

When examined by changes in commercial/multifamily mortgages outstanding, banks and thrifts once again came out on top, the MBA research found. This group had an increase of $17.5 billion, or 0.9%, followed by agency and GSE portfolios and MBS, which increased their holdings by $3.3 billion.



Buy $100 Virtual Visa Card, Get $10 Giftcards.com Gift Card


Giftcards.com has a new promotion for virtual Visa gift cards:

  • Buy:
    • $100 Visa Virtual Account and get a free $10 Giftcards.com Gift Card
  • Use promo code VISAGRAD
  • BUY NOW (affiliate link)

Guru’s Wrap-up

Decent deal for virtual Visa gift cards. You can also check shopping portals for some cashback. You can compare rates using sites like Savewise.

Disclosure: This article contains affiliate links. If you take action (i.e. subscribe, make a purchase) after clicking a link, I may earn some beer 🍺🍺🍺 money, which I promise to drink responsibly. When applicable, you should always go through shopping portals to earn cashback. But when that’s not an option, your support for the site is always greatly appreciated. Thank you for reading!

Can SpaceX Deliver Tesla-Level Returns? The Bull and the Bear Case


Tesla (TSLA +1.04%) went public in 2010. One of the company’s missions (though by no means the only one) was to revolutionize the auto industry. The electric vehicle (EV) maker has had tremendous success in that department. It has helped make EVs more mainstream, pioneered a vertically integrated model that some competitors in the industry are now looking to replicate, and sells cars directly to customers, something legacy automakers generally still can’t legally do in the U.S.

Tesla and its shareholders have been rewarded: The company has posted amazing returns over the past 16 years. Now, Tesla’s CEO, Elon Musk, is on the path to revolutionizing space travel. The company through which it is doing so, Space Exploration Technologies (SPCX 3.44%), recently went public in the largest IPO ever. If SpaceX can deliver returns similar to Tesla’s, it is a great idea to buy the stock today. Let’s discuss some arguments in favor and against investing in SpaceX.

Image source: The Motley Fool.

The bull case: Innovation can drive returns

SpaceX wants to make humans “multiplanetary.” Think: people constantly traveling to, perhaps even living, on other planets. That’s obviously not possible yet, not least because space travel is incredibly expensive. Building rockets is costly, and for the most part, they aren’t reusable. Enter SpaceX. Its highly vertically integrated approach allows it to manufacture its rockets in-house more cost-effectively, and the company’s famous rockets, Falcon 9 and Falcon Heavy, are partially reusable.

SpaceX goes beyond space travel, though. Through Starlink, a large network of Low Earth Orbit (LEO) satellites, it offers internet services, especially in rural and other underserved regions. Further, SpaceX’s xAI provides artificial intelligence (AI) services and owns Grok, a competitor to ChatGPT. SpaceX has found tremendous success so far. The company currently dominates the launch market, grabbing an impressive 51% of total orbital launches in 2025, according to some data.

The company’s Starlink also accounts for 54% of all operational satellites in orbit, giving it a solid lead in that market; it had 10.3 million active Starlink subscribers as of March 31. Further, SpaceX should continue innovating. The company is working on Starship, a next-gen, fully reusable rocket that could be yet another revolution in the field. SpaceX sees a huge addressable market ahead, the largest ever identified, according to the company. It estimates it at $28.5 trillion (that’s not a typo).

Provided the company can get close to capturing even a fraction of this opportunity, SpaceX could eventually make Tesla’s otherwise impressive returns look average.

Space Exploration Technologies Stock Quote

Space Exploration Technologies

Today’s Change

(-3.44%) $-6.59

Current Price

$185.23

The bear case: Competition, valuation, and the Musk factor

SpaceX looks promising, but several factors should give investors pause. First, while it is true that it is far ahead of the competition so far, that could change in the future. Several companies — public and private — are increasingly looking to eat SpaceX’s lunch. A first-mover advantage counts for something, but now that many companies are hot on its tail, SpaceX will have to continue innovating, or it may eventually lose its lead. Investors should keep that in mind. Another potential issue is valuation. SpaceX is worth $2.4 trillion. That’s almost as much as Amazon‘s (AMZN +3.01%) $2.6 trillion.

It’s hard to justify this valuation given SpaceX’s financial results. During the fiscal year 2025, SpaceX’s revenue increased by 33% year over year to $18.7 billion, while the company reported a net loss per share of $1.69 after posting a modest net income the year before. Meanwhile, Amazon’s first-quarter net sales of $181.5 billion grew 17% year over year and were almost 10 times SpaceX’s entire 2025 revenue.

Amazon is also consistently profitable and posted net earnings per share of $2.78 during the period, up 75% year over year. The market is forward-looking, and right now it is valuing SpaceX as though the company will find at least some success in its future endeavors, whether in space travel or elsewhere in its business. The flip side: Any perceived issue could send the stock price off a cliff. Lastly, investors should consider that Elon Musk is now the CEO of two major publicly traded corporations and remains a polarizing figure.

That could be good for the business: Investors might flock to SpaceX and bid up its share price because of Musk’s impressive track record of leading innovative companies. On the flip side, Musk’s tendency to overstate timelimes and business projections — and his active social media presence — can sometimes be a problem. So, what’s the verdict? SpaceX is likely to be a highly volatile stock no matter what, but I’d advise investors to wait for a major pullback before initiating a position. The company’s vision is aggressive, and it could deliver strong returns over the long run, but the stock is far too expensive at current levels.

How to score a Level 7 in the IB Business Management Paper 3



The video will go through how to score a Level 7 in your Paper 3 by providing an overview of the paper and its structure, followed by an examiner analysis of how to score top marks in each of the questions, including top tips for the [2] marker, [6] marker, and [17] marker.
~
TIMESTAMPS
0:00 Intro
0:10 Paper 3 Overview
1:16 [2] marker (Question 1) Overview & Top Tips
3:11 [2] marker (Question 1) Exemplar Response
4:58 [6] marker (Question 2) Overview & Top Tips
8:37 [6] marker (Question 2) Exemplar Response
10:05 [17] marker (Question 3) Overview & Top Tips
14:24 [17] marker (Question 3) Examiner Comments
21:00 [17] marker (Question 3) Structure
24:05 How to practice the Paper 3 & more BM resources
~
SEE MORE
Website: diplomaly.org
Email: info@diplomaly.org (
WhatsApp: +852-8416-7287 (

Book a free 1:1 consultation with Diplomaly to learn how we can help you master content, improve exam skills, and tackle the IA/EE.

source

Student Loan Tax Bomb Calculator And Estimator


Key Points

  • The “Student Loan Tax Bomb” is a term that refers to the taxes owed on forgiven student loan debt in some circumstances.
  • The tax bomb is set to return for many borrowers in 2026.
  • Programs like PSLF are always tax-free federally, but others, like IDR-based loan forgiveness may face tax consequences.

Taxes on many student loan forgiveness programs are set to return in 2026 and beyond. The American Rescue Plan Act (ARPA) made student loan forgiveness, regardless of the reason, tax-free federally from 2021 to December 31, 2025. However, the Big Beautiful Bill did not renew most of those provisions. Instead, it only allows death and disability discharge to remain tax-free permanently. 

While Public Service Loan Forgiveness remains tax-free federally by statute, other programs, such as income driven repayment plan-based loan forgiveness and borrower defense to repayment will be taxable starting in 2026.

While there are ways to avoid the tax bomb, it’s still a real issue that student loan borrowers may have to plan for. And while there are a lot of variables to this calculation, we wanted to create a simple tool that will allow you to estimate your future tax liability.

Would you like to save this?

We’ll email this article to you, so you can come back to it later!

Student Loan Tax Bomb Calculator

Here is the student loan tax bomb estimator:

Student Loan Tax Bomb Calculator





Single
Married Filing Jointly
Head of Household


What You Need To Know To Use The Tax Bomb Calculator

When you are trying to figure out what the potential tax bomb might be, there are a few things to consider. You need to know your future income and tax filing status (to figure out what federal tax bracket you’ll be in), and you need to know your total assets and liabilities, to know if you’re going to be insolvent or not.

Here’s what to include in each box. This should be your estimate based on the day in the future your student loans are forgiven. So, if you think your student loans will be forgiven in May 2030, then all of this information should be your estimate as of May 2030.

Total Assets

In the total asset box, the IRS looks at the total amount of all assets you own. This includes the basics like checking, savings, and investment accounts. But it also includes the value of your retirement accounts, real estate, any business ownership, and the value of your possessions. 

Total Liabilities

In the total liabilities box, you want to include everything you owe, including credit card debt, car loans, and any mortgage debt. You also want to include the amount of your student loans being forgiven.

Amount Of Student Loan Debt Forgiven

In this box, only include the amount of student loan debt being forgiven. 

Estimated Adjusted Gross Income And Tax Filing Status

Finally, you need to include an estimate of your adjusted gross income (AGI) WITHOUT the debt being forgiven. So, if you pull up your prior year tax return, look on Line 11.

Of course, this should be the AGI for the year you get the loans forgiven. So, if you expect to be earning more, enter that amount.

Also, you need to select your martial status – again, for the year the loans are forgiven.

AGI on 1040 | Screenshot by The College Investor

Additional Considerations About Student Loan Forgiveness And Taxes

There are a lot of things to consider about student loan forgiveness and taxes, and it honestly shouldn’t be a huge priority. Your goal should always be thinking about what you can afford today, and whether you have a plan for your student loans – forgiveness and taxes, or not.

With that said, it’s important to remember that PSLF and disability discharge are always tax free federally. Also, employer student loan repayment assistance is also tax-free (up to the $5,250 limit per year). 

It’s also important to realize that there may be state taxes on your student loan forgiveness as well. State taxes are a really mixed bag of rules. Even PSLF is taxable in Mississippi. 

For real long term planning, it can make sense to save up a little money to pay the tax bomb, but you can also setup a payment plan with the IRS if it’s something you can’t afford. At the end of the day, the tax liability of your loan forgiveness will always be significantly less than your student loan balance. 

Frequently Asked Questions

What is the student loan tax bomb?

The “student loan tax bomb” refers to the income tax you may owe when student loan debt is forgiven. The IRS can treat canceled debt as taxable income, so a large forgiven balance may create a sizable federal — and sometimes state — tax bill in the year your loans are forgiven.

When does the student loan tax bomb return?

It returns for student loans forgiven on or after January 1, 2026, depending on the reason why the loan was forgiven. The American Rescue Plan Act made federal student loan forgiveness tax-free from 2021 through December 31, 2025, but that provision was not extended.

Is student loan forgiveness taxable in 2026?

For some programs, yes, at the federal level. Forgiveness through income-driven repayment (IDR) plans is taxable starting in 2026. The main exceptions that remain tax-free are PSLF, borrower defense, and death and disability discharge, which were made permanently tax-free.

Is PSLF taxable?

No. Public Service Loan Forgiveness is tax-free at the federal level by statute, and that did not change in 2026. A few states may still tax it, however — for example, PSLF is taxable in Mississippi.

Which types of student loan forgiveness are taxable?

Beginning in 2026, IDR-based forgiveness (such as forgiveness after 20–25 years of payments) is federally taxable. Tax-free exceptions include PSLF, death discharge, and total and permanent disability discharge.

How do you avoid the student loan tax bomb?

One key option is the IRS insolvency exclusion: if your total liabilities exceed your total assets at the time of forgiveness, you may exclude some or all of the canceled debt from taxable income. Tax-free programs like PSLF and disability discharge also avoid the tax bomb entirely.

Do states tax student loan forgiveness?

Sometimes. State rules vary widely and don’t always follow federal treatment. Some states tax forgiven student loan debt as income, and at least one (Mississippi) taxes even PSLF. Check your specific state’s rules for the year your loans are forgiven.

How is the student loan tax bomb calculated?

The forgiven amount is generally added to your adjusted gross income (AGI) for that year, which can push you into a higher tax bracket. Your actual bill depends on your filing status, total income, and whether you qualify for the insolvency exclusion.

What if I can’t afford to pay the tax bomb?

You can set up a payment plan with the IRS to pay the tax over time, and it helps to save toward the bill in advance. Remember that the tax owed on forgiveness is always far less than the student loan balance itself.

Don’t Miss These Other Stories:

@media (min-width: 300px){[data-css=”tve-u-1980a3130f3″].tcb-post-list #post-58820 [data-css=”tve-u-1980a3130fa”]{background-image: url(“https://thecollegeinvestor.com/wp-content/uploads/2023/11/TheCollegeInvestor_AllSizes_How_Accurate_are_College_Admissions_Calculators_1280x720-150×150.jpg”) !important;}}

Repayment Assistance Plan (RAP) Student Loan Calculator

Repayment Assistance Plan (RAP) Student Loan Calculator
@media (min-width: 300px){[data-css=”tve-u-1980a3130f3″].tcb-post-list #post-60115 [data-css=”tve-u-1980a3130fa”]{background-image: url(“https://thecollegeinvestor.com/wp-content/uploads/2024/08/Student_Loan_Repayment_After_the_Pause_1280x720-150×150.png”) !important;}}

RAP vs. IBR: What Student Loan Borrowers Need To Know In 2026

RAP vs. IBR: What Student Loan Borrowers Need To Know In 2026
@media (min-width: 300px){[data-css=”tve-u-1980a3130f3″].tcb-post-list #post-60412 [data-css=”tve-u-1980a3130fa”]{background-image: url(“https://thecollegeinvestor.com/wp-content/uploads/2025/06/United-States-Congress-150×150.jpg”) !important;}}

Congress Passes Massive Changes For Student Loans

Congress Passes Massive Changes For Student Loans

Editor: Colin Graves

The post Student Loan Tax Bomb Calculator And Estimator appeared first on The College Investor.

Los Angeles mayor declares emergency over warehouse fire




Los Angeles mayor declares emergency over warehouse fire

$100 Visa eGiftcard For $105.95 + $10 Bonus Giftcards.com Giftcard (Limit 3)


The Offer

Direct link to offer

  • Giftcards.com is offering a free $10 giftcards.com giftcard when you purchase a $100 Visa eGiftcard with promo code VISAGRAD. Total cost is $105.95. Limit 3 per order

Our Verdict

Don’t see the deal advertised anywhere but works fine in cart, if you try to buy more than 3 you’re just not given the $10 bonus gift card. Purchasing three will cost you $317.85. Deal is made better when you stack, possible stacks:

New listings drought tests US housing market


Homes were selling in an average of 42 days, three fewer than April but two days slower than May 2025.

The months’ supply of inventory stood at 2.5, unchanged from a year ago and up from 2.3 in April.

“The housing market was finding its footing this spring, with steady month-over-month sales gains showing that buyers are still engaged,” said Chris Lim, RE/MAX President and Chief Growth Officer.

“At the same time, the slowdown in new listings limited inventory growth. That’s keeping conditions competitive in many markets, even as price growth remains relatively moderate. For buyers and sellers alike, this is a market where timing and expert guidance matter more than ever.”

New listings retreat extends seven-month streak

The supply picture is the defining friction point. Overall inventory rose 8.4% from April and 2.0% year over year, the 29th consecutive month of annual inventory growth, but those gains are shrinking.

Trump tries explain why the Reflecting Pool is algae green and its blue lining is peeling



President Donald Trump on Saturday announced that federal authorities had made “multiple arrests” of people he said were vandalizing the Reflecting Pool as he struggled to explain why the $14-million-plus rehabilitation project he launched for the nation’s 250th anniversary seemingly backfired.

Trump said his predecessors had let the pool turn an algae-stained green and that he’d line it with “American flag blue” so it better reflected the Washington Monument. But after the new pool was unveiled, its blue tinge quickly became a familiar green. Workers treated it with chemicals to kill the algae, but then the painted blue lining on the bottom began to peel.

On Friday night, Trump posted about the pool.

“We’ve had some real problems with Vandalism at the beautiful Reflecting Pool,” he posted on his social media site Friday night. “Just like three days ago, they destroyed the grass outside of the Pool, they’ve also done everything possible to hurt the inside surface that was just installed.”

He offered no details to substantiate his claim.

Agencies responsible for law enforcement and upkeep on the National Mall — the U.S. Park Police, National Park Service and Interior Department — did not respond to requests for comment. Trump on Saturday followed up by posting that Park Police “have arrested multiple individuals for vandalizing our Nations magnificent Reflecting Poll,” correcting his spelling to “Pool” later.

He went on: “Who would do such a thing? These are very serious crimes having to do with the destruction of National Monuments. Years in jail!”

One man arrested was David Hearn, 67, of Bethesda, Maryland, who owned a company that made composite used to build watercraft. He said he stopped by the pool during his 64-mile bike ride Friday to see what was going on.

Hearn, a former Olympic canoe racer, told The Associated Press that he reached into the pool because he wanted to examine the peeling new coating. He said he briefly touched a chunk that was still attached to the side of the pool, then let go shortly after a park worker told him to.

But, Hearn said, he was then detained by National Guard troops and Park Police for five hours before being released Friday night.

“I’m a curious citizen,” Hearn said in a telephone interview. “I reached down to see what it felt like. It was very rubbery.”

The Washington Post first reported Hearn’s arrest, and he said he has a date to appear in court next month and is looking for legal help.

Even if someone pulled ribbons of paint from the side of the pool, it would not explain the clouds of algae in green water and swaths of loose blue paint detached from the bottom.

Trump insisted something nefarious has been going on at the scene. “No different than the chemicals that were used on the National Mall, they used something similar in the Reflecting Pool to try to destroy and demean our beautiful work,” he posted Friday evening.

That was an apparent reference to the discovery of large numbers etched in discolored grass on the National Mall the week before: “86 47.” Authorities said the numbers could have been meant as a threat to Trump, the 47th president. The number 86 can be slang for “getting rid of.” They are investigating.

Trump’s claims came after days of negative attention to the state of the pool, which has drawn television cameras and curious onlookers.

Where You Should Be Investing Your Money In 2026 | Chris Camillo



OpusClip: Try 1 week FREE and get 50% off your first 3 months at
Video From ► Money Expert: A $37 Trillion Market Reset Is Coming – Do This Now! | Chris Camillo
Full Episode Link ►

SUBSCRIBE TO THE PODCAST ►
ADD JACK ON INSTAGRAM ►
ADD GRAHAM ON INSTAGRAM ►

LISTEN ON:
ITUNES:
SPOTIFY:

ADD ICED COFFEE HOUR ON:
INSTAGRAM:
TIKTOK:

source