The REconomy Podcast

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain the looming the silver housing handoff: how aging baby boomer homeowners may gradually release housing stock back into the market, who might absorb these homes, and why the answer could look very different depending on market. Ultimately, what many refer to as the ‘silver tsunami’ appears to be a more nu...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Principal Commercial Real Estate Economist Xander Snyder commemorate reaching the 150th episode mark by examining how the real estate market has evolved since the inception of the podcast in 2021, highlighting key trends that have shaped the market dynamics present today. The conversation traces the arc from pandemic recovery through rising inflation and cor...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine the slow-moving demographic forces reshaping housing demand, supply and transaction activity. The conversation unpacks the great housing handoff from baby boomers to millennials and Gen Z, explains the growing population of ‘shadow homeowners’ lurking just one or two moves away from a purchase, and detai...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine rising foreclosure data and help put the latest numbers into perspective. They breakdown where mortgage stress is concentrated, why today’s market differs from the Great Financial Crisis, and the key conditions that could turn financial distress into foreclosure. Don’t miss a single REconomy episode, sub...

In this episode of the REconomy Podcast™, Deputy Chief Economist Odeta Kushi and Principal Commercial Real Estate Economist Xander Snyder examine the commercial real estate market at the midpoint of 2026. The conversation explains why price discovery appears mostly behind us, why demand from consumers and businesses is the next major test for the recovery, and what investors waiting for perfect clarity may already be missing. Don&r...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi revisit their 2026 outlook and discuss where the housing market is headed in the second half of the year. The conversation unpacks why stability in a volatile year represents real progress, how nearly five million missing home sales represent demand deferred rather than demand destroyed, and what the slower-moving dynamics ...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explore the often-overlooked infrastructure that makes America's $5 trillion real estate economy1 possible: private property rights and property records. The conversation explains how private property rights fuel wealth creation and economic growth, how title insurance emerged from the need to protect those rights and why p...

In this episode of the REconomy Podcast™, Deputy Chief Economist Odeta Kushi and Principal Commercial Economist Xander Snyder examine the seemingly endless demand for data centers and explain why the story is more nuanced than the headlines suggest. The conversation breaks down why vacancy rates near record lows and surging pre-leasing activity reflect a demand base that extends well beyond AI, and highlights the real bottleneck to...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi mark National Homeownership Month by examining whether America's enduring appetite for homeownership can overcome the most affordability-challenged era in decades. Their conversation explains what the long-run increase in the share of 25-to-34 year olds living with their parents means for homeownership demand, why the housi...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Senior Commercial Real Estate Economist Xander Snyder examine whether the commercial real estate maturity wall has reached a turning point. The conversation unpacks why both borrowers and lenders are pursuing fewer loan extensions, how investor lenders and banks differ in their approach to loan extensions, and what "resolution" really means in a CRE market w...

In this episode of The REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi tackle a common misconception that housing has never been more unaffordable. Sharing the results from their proprietary analysis, they explain how tracking nominal house prices alone fails to capture the impact of shifts in house-buying power. Their conversation highlights how affordability has changed over generations...

In this episode of The REconomy Podcast™, Deputy Chief Economist Odeta Kushi and Senior Commercial Economist Xander Snyder unpack the seemingly conflicting signals emerging from retail property price data in early 2026. They examine why one major retail price index suggested prices were softening, even as broader price-per-square-foot measures remained more stable. While the softer repeat sales read may ini...

In this episode of the REconomy Podcast™, Senior Commercial Real Estate Economist Xander Snyder and Chief Economist Mark Fleming trace the full arc of industrial cap rates since the pandemic: from record lows driven by e-commerce demand, through a sharp reset as interest rates soared, to the cap rate plateau that exists today. They examine how cap rates have converged across major metros and why previously premium West Coast market...

In this episode of The REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explore whether the 2026 spring home-buying season may turn on recent events and rising energy prices. They discuss the economic forces shaping housing demand, including labor market trends, mortgage rates, housing affordability and the persistent lock-in effect limiting supply. While affordability has improved modestly and...

In this episode of The REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explore four key dynamics that are shaping the outlook for the broader economy and the housing market, including macro-economic landscape, labor market shifts, housing supply and even artificial intelligence and productivity. While the broader economy remains resilient, structural challenges continue to shape...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi examine the demographic trends shaping homeownership demand, highlight the wealth-generating power of homeownership, and explain their cautious optimism ahead of the 2026 spring home-buying season. Despite affordability challenges and the ongoing rate lock-in effect, the underlying demand for homeownership remains structura...

In this episode of the REconomy Podcast, Chief Economist Mark Fleming, Deputy Chief Economist Odeta Kushi, and Senior Commercial Real Estate Economist Xander Snyder unpack why an uptick in office conversions has had limited impact on the broader office market, and why that may soon change. Office-to-residential conversions remain difficult, costly, and limited in scale, while new office construction has continued to add supply. How...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi go back to the commercial real estate future with Senior Economist Xander Snyder, explaining how the emerging CRE cycle most closely resembles the 1990s and what that means for market participants. Drawing on a proprietary analysis of historical data, the team breaks down why cap rates are more likely to move...

In this episode of the REconomy Podcast™, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi dig into their 2026 outlook for the new-home market, framing how homebuilders remain well positioned in the competition for buyers with the existing-home market in the year ahead. However, that advantage may become harder to sustain as inventory and affordability in the existing-home market gradually imp...