Monday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King.

Housing market hits record value of $47 trillion

The U.S. housing market just reached a new all time high valuation of $47 trillion.

Redfin reports that surpassed the previous record of $46.6 trillion set a year earlier.

Low inventory of houses has pushed up home values.

Indiana farmland prices hitting record highs

Indiana farmland prices once again hit record highs in 2023.

Purdue says statewide, the average price of top quality farmland averaged $13,739 per acre, up 7.3% from June 2022.

Statewide, cash rents increased by a modest amount between 2022 and 2023.

Drivers cancel travel plants over high gas prices

The high cost of gas has led to a large number of Americans to cancel their summer travel plans, according to QuoteWizard.

Quotewizard notes that although gas prices peaked in 2021, we still are seeing prices 61% higher than in 2020.

Google working on AI for musicians’ voices

Alphabet, the parent company of Google, is in the early stages of negotiating with universal music group over a tool to let fans create “Deepfake” songs using artists’ voices and music through a legitimate process that would see artists who opt-in to the program receive royalties.

AI tools pose a threat to the music industry, as they can clone artists’ voices with a Deepfake, or replicate their music, infringing on their intellectual property rights and potentially diminishing their earning potential.

Dunkin’ debuting line of boozy coffees, teas

Dunkin’ is looking to give its customers a different kind of buzz.

It is preparing to launch a line of boozy iced coffee and teas under the name Dunkin’ spiked.

They come in different flavors and will be served in cans at Dunkin’ locations, although no launch date is set.