Core Insights - National rent growth continues to decelerate, with annual rent growth slowing to 0.8% in October 2025, down from 0.9% in September and 1.5% at the start of the year [3][5]. Rent Trends - The national average apartment rent fell to $1,708 in October, representing a 0.3% decrease from September's revised figure of $1,713, marking the steepest October decline in over 15 years [3][4]. - October rent changes have averaged a 0.15% monthly decline from 2022 to 2024, compared to an average of 0.07% from 2010 to 2024, indicating a more pronounced decline this year [4]. Regional Performance - All regions experienced rent declines in October, with the West leading at -0.53%, followed by the South at -0.28%, the Northeast at -0.24%, and the Midwest at -0.18% [6]. - The Midwest showed the strongest annual performance with a growth of +2.2%, while the West saw a decline of -1.4% year-over-year [6]. Metro-Level Analysis - Only Las Vegas and Milwaukee reported monthly rent gains of +0.2%, while significant declines were noted in Denver (-1.3%), Austin (-1.1%), and Seattle (-0.9%) [7][8]. - Markets with high levels of new construction are experiencing the weakest rent performance, while supply-constrained metros, particularly in the Midwest and select coastal areas, continue to outperform [9][10].

Summary of Domain Australia (DHG) 2025 Annual General Meeting Company and Industry - **Company**: Domain Holdings Limited (DHG) - **Acquirer**: CoStar Group Inc. - **Industry**: Real Estate Information and Analytics Core Points and Arguments - **Scheme Meeting Purpose**: The meeting was convened for shareholders to vote on a proposed scheme of arrangement for CoStar to acquire Domain through its subsidiary, BidderSub [2][3] - **Shareholder Voting**: Only Domain shareholders, appointed proxies, corporate representatives, and attorneys had the right to speak and vote at the meeting [4][5] - **Scheme Details**: If approved, shareholders will receive $4.43 cash per share, representing a 42% premium to the trading price on February 20, 2025 [14][16] - **Special Dividend**: A fully franked special dividend of 8.8¢ per share will be paid prior to the scheme's implementation, subject to the scheme becoming effective [14][15] - **Independent Expert Report**: Grant Samuel assessed the scheme as fair and reasonable, with a share value range of $4.6 to $4.46, making the scheme consideration close to the top of this range [15][16] - **Major Shareholder Support**: Nine Entertainment Co Holdings Limited, holding approximately 60% of Domain shares, confirmed its intention to vote in favor of the scheme [18] - **Regulatory Approval**: The scheme has received necessary regulatory approvals, including from the Foreign Investment Review Board [19] Important but Overlooked Content - **Shareholder Engagement**: Only 739 out of nearly 12,000 shareholders (about 6.1%) engaged with the proxy voting system, which was considered in line with expectations [30][31] - **Market Context**: The meeting occurred amidst a trend of takeovers in the ASX, with a noted mispricing between public and private markets [32] - **Management Transition**: Questions were raised about the future roles of existing directors and executives post-acquisition, with management contracts rolling into CoStar [36][37] - **Future Prospects**: The chairman expressed confidence in CoStar's plans to invest in Domain, indicating a positive outlook for the company's future [35]