Research that moves
before the market does.

Only ~30% of announced AI data-center capacity is actually under construction, and 50–60% comes online on schedule. The binding constraint is power, not compute — the real-world governor on the memory-pricing thesis.

Build-to-rent supply is down ~50% from its 2024 peak and 61% Sunbelt-concentrated — while Columbus stays supply-starved and demand-rich. Why absorption and rent growth favor a disciplined fix-to-rent operator.

The Fed has held four straight meetings and the curve implies only modest cuts — while SFR cap rates reset ~194bps higher to 7.3%, restoring thin positive leverage over ~6.5% financing. Why entry basis is the edge.