The REconomy Podcast

Is This the End of the ‘Extend and Pretend’ Era? - EP 142

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 where distress has diminished, but hasn't disappeared. Don’t miss a single REconomy episode, subscribe today.

Tracing Housing Affordability Across Generations – Who Had It Worse? - EP 141

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 and identifies which generation faced the steepest affordability challenges. Don’t miss a single REconomy episode, subscribe today.

Are Retail Property Prices Really Falling? - EP 140

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 initially suggest weakening, the broader evidence points to a more nuanced story. Don’t miss a single REconomy episode, subscribe today.

Industrial Cap Rates Stabilize After Pandemic Volatility - EP 139

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 markets, particularly Los Angeles, have moved closer to the middle. While the national trend suggests balance, local dynamics reveal a more nuanced story shaped by both supply and demand. Don’t miss a single REconomy episode, subscribe today.

Will Rising Energy Prices Scramble the Spring Home-Buying Season? - EP 138

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 inventory levels are rising, meaningful housing market recovery will likely remain gradual rather than dramatic. Don’t miss a single REconomy episode, subscribe today.

The Four Keys that May Unlock the Economy and Housing Market in 2026 - EP 137

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 housing affordability and market dynamics in the year ahead. Don’t miss a single REconomy episode, subscribe today.

What’s Shaping Homeownership Demand Ahead of the 2026 Spring Home-Buying Season? - EP 136

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 structurally strong. Don’t miss a single REconomy episode, subscribe today.

A CRE Shift – When Office Conversions May Start to Materially Impact the National Office Market - EP 135

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. However, sharply lower office construction starts could mark a shift, making office conversions measurably influential to national office market in the years ahead. Don’t miss a single REconomy episode, subscribe today.
 

Back to the CRE Future: What the 1990s Tell us about the New CRE Cycle - EP 134

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 sideways, rather than fall meaningfully, making income growth and operational execution far more important than valuation tailwinds.
Don’t miss a single REconomy episode, subscribe today.
 

Homebuilders Maintain their Advantage Over the Existing-Home Market…for Now - EP 133

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 improve. Don’t miss a single REconomy episode, subscribe today.