Podcast Summary: Marketplace Morning Report

Episode: A housing roundup and lookahead
Date: December 30, 2025
Host: Nova Safo (in for David Brancaccio)

Episode Overview

This brief but information-packed installment of the Marketplace Morning Report reviews the current state of the U.S. housing market as 2025 draws to a close and looks ahead to possible trends in 2026. Marketplace's Amy Scott offers insight into market sluggishness, affordability challenges, and economic forecasts for next year. The show also features a quick update on the latest home price data, public transportation changes in New York City, and an in-depth segment from the BBC on the vulnerabilities exposed in global auto supply chains by a major cyberattack.

Main Segment: State of the Housing Market and 2026 Outlook

Where the Housing Market Stands Now

[00:46 – 02:14]

• Host Nova Safo welcomes Marketplace housing reporter Amy Scott for a discussion about how the U.S. housing market fared in 2025 and what’s next.
• Described as “pretty sluggish” overall, with key regional differences.
• Sales have remained flat due to persistent affordability issues:
  • Mortgage rates have come down from nearly 7% at year’s start to low 6% for a 30-year fixed.
  • However, high prices keep many would-be buyers on the sidelines.
  • Sellers with ultra-low pandemic mortgage rates are reluctant to move, removing homes from the market or causing deals to fall apart.
• Quote:
  • Amy Scott [01:18]:
    “No one walked away happy from this housing market.”

2026 Housing Market Forecasts

[02:14 – 03:12]

• Economists and realtors predict “some improvement:”
  • Modest sales increase estimated between 1% to 3%.
  • National Association of Realtors stands as an outlier, predicting a 14% jump.
  • Mortgage rates are expected to stay in the low-to-mid 6% range.
  • Home price growth is predicted to slow, potentially increasing slower than incomes for the first time in years.
• Redfin predicts a “years-long great housing reset” starting in 2026, suggesting gradual improvement in affordability and a shift towards normalcy unseen in recent memory.
• Quote:
  • Amy Scott [02:53]:
    “Many are actually expecting prices to rise more slowly than incomes, which would be the first time that happened for a prolonged period in many years.”

Forecast Caveats

[03:12 – 03:44]

• Significant uncertainty remains:
  • A weaker job market could dampen home sales.
  • Inflation and tariffs are unpredictable.
  • Changes in Federal Reserve leadership add to the unpredictability.
• Quote:
  • Amy Scott [03:36]:
    “No one’s ever right about economic forecasts. And if they say they were right, they’re lying. So this is the best guess that folks I’ve talked to can make right now.”

Key Economic Data Update

Home Price Growth Slowing

[03:47 – 04:16]

• Fresh October data: U.S. home prices rose 1.4% year-over-year, per S&P CoreLogic Case-Shiller Index.
  • This is a notable slowdown from the 3.5% annual rate reported a year prior.

New York City Metro System Moves to Tap-to-Pay

[04:16 – 04:41]

• NYC’s Metropolitan Transportation Authority (MTA) is phasing out its iconic swipeable MetroCard in favor of contactless smartphone and credit card payments.
  • MetroCards will still work for some time into 2026.
  • Historical context: MetroCard replaced tokens in 1994.

In-Depth Segment: Cyberattack on Jaguar Land Rover and Supply Chain Fallout

[05:40 – 08:31]
Reporter: Theo Leggett, BBC

• In September, a cyberattack crippled Jaguar Land Rover (JLR), halting global production for more than five weeks.
  • Daily production of over 1,000 cars was brought to a standstill.
• Ripple effects on supply chain:
  • Key suppliers like Evtech Group were forced to stop sales and send workers home.
  • Quote:
    • David Roberts, Evtech Group [07:10]:
      “We stopped sales in early September, so we’ve had to take stringent cost measures to protect the business, make sure we survive. That’s involved, unfortunately, sending people home because we couldn’t do any productive work for them.”
  • The financial impact exceeded $2.5 billion, according to Cyber Monitoring Center.
• The attack exposed systemic supply chain vulnerabilities:
  • Highlights how industries not classified as “critical infrastructure” can still cause massive economic disruption if compromised.
  • Quote:
    • Kieran Martin, Cyber Monitoring Center [08:00]:
      “That next level down, I think, is a really serious systemic vulnerability in all our economies.”
• Production at JLR and its suppliers has resumed, but the episode underscores the economic risks posed by cyber threats.

Notable Quotes

• Amy Scott [01:18]:
  “No one walked away happy from this housing market.”
• Amy Scott [02:53]:
  “Many are actually expecting prices to rise more slowly than incomes, which would be the first time that happened for a prolonged period in many years.”
• Amy Scott [03:36]:
  “No one’s ever right about economic forecasts. And if they say they were right, they’re lying. So this is the best guess that folks I’ve talked to can make right now.”
• David Roberts, Evtech Group [07:10]:
  “We stopped sales in early September, so we’ve had to take stringent cost measures to protect the business, make sure we survive. That’s involved, unfortunately, sending people home because we couldn’t do any productive work for them.”
• Kieran Martin, Cyber Monitoring Center [08:00]:
  “That next level down, I think, is a really serious systemic vulnerability in all our economies.”

Timestamps for Important Segments

• Housing market state and outlook: [00:46 – 03:44]
• Home price update: [03:47 – 04:16]
• NYC MetroCard update: [04:16 – 04:41]
• JLR cyberattack & global supply chain risks: [05:40 – 08:31]

Summary

This episode offers a concise yet comprehensive look at the U.S. housing market’s woes and what may lay ahead in 2026—a potential for gradual improvement, but many economic uncertainties persist. The show also explores broader economic vulnerabilities, from the reach of home price changes to the butterfly effect of corporate cyberattacks on global supply chains. For listeners seeking to understand where things stand in the housing economy—and why infrastructure security matters to everyone—this episode presents timely insights supported by real-world examples and expert commentary.