In Part 1, we covered the wealth side of the K-shaped economy: asset owners compounding upward while others struggle with rising costs and expensive debt. Now let’s talk about income—because income is the fuel that buys assets. And income is diverging fast. Here’s the reality: AI isn’t just a tech trend. It’s an income filter. It will amplify some people’s earnings—and compress others. The Income K: Who Wins and Who Gets Pressured AI is creating two paths. Income winners: Pro

Cinematic illustration of a K-shaped economy: a modern skyline and investor on a pristine rooftop contrasted with a cracked, struggling neighborhood below. The widening gap symbolizes wealth inequality, tech euphoria, market speculation, and the investment risks of bubbles and uneven growth.

The U.S. apartment market took a noticeable step down in the third quarter as the wave of new supply built over the past several years collided with softer demand. Rising vacancies, slower rent growth, and a sharp pullback in new starts all point to a sector transitioning from peak oversupply toward the early stages of stabilization. Despite the deceleration, capital markets activity picked up, and valuations even ticked slightly higher—suggesting investors are beginning to r