Brew Markets – December 1, 2025

Episode: Demystifying the Housing Market & Disney’s Boffo Box Office

Host: Ann Berry (A)
Guest: Kamini Rangapan Lane (B), President & CEO, Coldwell Banker Realty

Episode Overview

This episode centers on unraveling the complexities of today’s U.S. housing market, focusing on data-driven insights, industry shifts, and evolving buying and selling dynamics. Host Ann Berry welcomes Kamini Rangapan Lane, CEO of Coldwell Banker Realty, to discuss market trends, inventory shortages, affordability, technological disruption (including the Compass vs. Zillow feud), and the rise of alternative real estate investment models. The latter part of the show delivers key updates on Cyber Monday stock movers and Disney’s “Zootopia 2” box office triumph.

Key Discussion Points & Insights

1. Compass vs. Zillow: The Private Listing Debate

(00:11–05:11)

• Background:

  • Zillow, US’s top online real estate portal (~$15bn market cap), implemented a policy requiring homes to be publicly listed on the MLS within one business day of pre-marketing or lose their place on Zillow.
  • Compass (~$6bn market cap) utilizes “private exclusives,” initially marketing homes to agents/contacts before public MLS disclosure.
  • Compass lawsuit: Claims Zillow’s policy is anti-competitive, suppresses competition, and entrenches Zillow’s dominance.
  • Zillow’s stance: Asserts pro-consumer intent—ensuring buyers get timely and equal market access to listings.
  • Broader Impact:
    • Compass is acquiring Anywhere Real Estate (which owns Coldwell Banker), potentially creating the U.S.’s largest brokerage (340,000 agents, ~20% market share).
    • If Compass’s scale grows, the private listing model could become more prevalent.

• Notable Quote:

  • Ann Berry (A), [01:45]:

    “Does the seller and their agent have the right to choose a soft launch before going full throttle with a public listing or does the portal gatekeeper have the ability to veto that choice?”

2. Current Housing Market Conditions

(06:42–09:40)

• Supply & Demand:
  • Median days on market in the U.S.: 34 days—indicative of robust demand despite “sluggish” perceptions.
  • Severe inventory constraint persists—affecting market pace.
  • Some metros (e.g., Florida) drag up averages due to longer days on market; national inventory is still below pre-pandemic (2019) levels.
  • Key Insight: Rising prices in key metros (4–5% yearly) underscore sustained demand.
    • “If there wasn’t enough demand, then prices would stagnate. In fact, when you look at the 2008 crash, prices went down almost 10% nationally. The fact that prices are still increasing… is a very strong indicator that the market is still pretty healthy.”
      —Kamini Lane (B), [08:57]

3. Affordability & the American Dream

(09:41–12:19)

• Challenges:
  • Affordability is a critical concern, with buyers—especially first-timers—strained by rate hikes and home appreciation.
  • Despite challenges, homeownership remains highly aspirational.
  • Survey Highlight:
    • “Eighty-five percent feel that homeownership is still a cornerstone of the American Dream.”
      —Kamini Lane (B), [10:19]
  • Recent/future rate cuts may unlock sidelined demand, especially if adjustable-rate mortgages dip below 5%.
    • “That really loosens up that lock-in mindset... when you get a four handle instead of a five handle.” —Kamini Lane (B), [11:37]

4. Unlocking Inventory: “Locked-In” Homeowners

(12:54–15:37)

• Many current homeowners are holding low rate mortgages from past cycles, hesitant to sell and lose those terms.
• Life events (job change, family needs) drive about 10% of yearly transactions, regardless of market factors.
• Key Insight:
  • Sustained price increases are creating “FOMO”—if buyers wait, they risk getting priced out due to ongoing appreciation.
    • “If you just keep waiting to buy a house, you’re leaving money on the table.” —Kamini Lane (B), [15:21]

5. Investor Activity & Single-Family Rentals

(15:37–17:39)

• Investors increasingly dominate: now own ~25% of U.S. residential properties.
• Investors aren’t hesitating, “fix and flip” or rent out properties, often outcompeting average buyers.
• Advice:
  • “If you’re financially stable, go talk to your real estate agent and figure out a property to get into, because investors are not waiting.” —Kamini Lane (B), [16:34]

6. The Limits of Tech Disruption: iBuyers & the Human Element

(17:39–20:39)

• High-profile iBuyer models (Opendoor, Zillow Offers) have struggled to scale renovations, as refurbishment requires skilled labor.
  • “Despite the fact that there is a technology foundation... refurbishing is very much a human task… That does not scale.” —Kamini Lane (B), [18:29]
• Consumer-facing tech (search, AI tools) has improved buyer experience, but the agent-client relationship remains essential due to the emotional/financial complexity of home buying.

7. Private Listings: Philosophy & Practicality

(20:40–22:59)

• Coldwell Banker Realty does offer a private listing service (“Exclusive Look”) for clients valuing privacy or unique needs.
  • “Our philosophy is very much have a conversation with your agent about your real needs as a seller… Is your property truly unique? Do you have real privacy concerns?” —Kamini Lane (B), [21:53]
• However, most sellers benefit from broad exposure via MLS.

8. Fractional Ownership & Alternative Investment Models

(22:59–24:32)

• Startups are building platforms for fractional investing in real estate—allowing investors to own small stakes (“bricks”) in properties.
  • “It’s an interesting way for people to start to get into the real estate market… with less downside exposure and not as much cash up front.” —Kamini Lane (B), [23:54]
• Such models may help more people access the wealth-building benefits of property, amid continued affordability challenges.

Notable Quotes

• On Private Listings and Competition:

  “Does the seller and their agent have the right to choose a soft launch before going full throttle with a public listing, or does the portal gatekeeper have the ability to veto that choice?” —Ann Berry, [01:45]

• On Market Health:

  “34 days on market is the average for the US as a whole… It still remains a buyer’s market. Demand is super strong, but we are inventory constrained.” —Kamini Lane, [06:49]

• On Affordability & Aspiration:

  “Eighty-five percent feel that homeownership is still a cornerstone of the American Dream.” —Kamini Lane, [10:19]

• On Investor Activity:

  “Investors now comprise about 25% of all owners of properties in the U.S. 1 in 4. Yes, 1 in 4 properties is owned by an investor.” —Kamini Lane, [16:23]

• On Tech vs. Human Element:

  “The fundamental model of buying homes en masse and then refurbishing and flipping doesn’t scale... that central part of refurbishing a home requires humans.” —Kamini Lane, [18:29]

Market Headlines & Pop Culture Wrap-up

(25:05–26:16)

• Shopify (SHOP): Down 4% after Cyber Monday outage, despite strong Black Friday performance ($6.2bn GMV, +25% YoY).
• Moderna: Down 6.5% as FDA signaled stricter vaccine approval rules.
• Disney: Up ~2% after “Zootopia 2” grossed $156m domestically and $275m in China over six days—record for animated films.

Conclusion & Look Ahead

The episode provided a comprehensive look at the U.S. housing market’s current state—persistent demand, low inventory, and the growing role of investors are colliding with technological innovation and regulatory battles over listing control. While affordability remains a challenge, homeownership is still deeply valued, and creative investment solutions are gaining traction.

Ann’s closing note:

“Come back after that [rate cut] because we want to hear the latest in what you’re seeing in terms of mortgage rate move and housing market movements as a result early next year.” —Ann Berry, [24:32]

Episode Timestamps (Key Segments)

• Compass vs. Zillow feud: [00:11–05:11]
• Market indicators & conditions: [06:42–09:41]
• Affordability & buyer challenges: [09:41–12:19]
• Locked-in homeowners/unlocking supply: [12:54–15:37]
• Investor behavior: [15:37–17:39]
• Tech in real estate & iBuyers: [17:39–20:39]
• Private listing perspectives: [20:40–22:59]
• Fractional ownership discussion: [22:59–24:32]
• Market & pop culture headlines: [25:05–26:16]