It's home improvement time

Summary

Marketplace Morning Report – “It's Home Improvement Time”

Date: October 17, 2025
Host: Sabri Benashour (in for David Brancaccio)
Summary by Section with Timestamps

---

Episode Overview

This episode of Marketplace Morning Report offers listeners a concise yet comprehensive briefing on overnight business and economic news, emphasizing the state of the U.S. regional banking sector, trends in home improvement spending, and innovations in sustainable food production. Notable features include insights into regional banks’ struggles, an analysis of the home renovation market, and a spotlight on alternative fats and lab-grown foods as solutions to pressing agricultural challenges.

---

Key Discussion Points & Insights

1. Regional Banks Face Turbulence

[01:01–01:51]

• Host Sabri Benashour updates on the morning’s jitters triggered by concerns regarding regional banks:
  • Zions Bank (Salt Lake City) and Western Alliance Bank (Phoenix) reported increased loan defaults due to fraud in the commercial mortgage market.
  • JP Morgan CEO Jamie Dimon warns of “cockroaches in the economy,” referring to bad debt piling up.
• Mortgage rates dropped to an average 6.27% (Freddie Mac), possibly affecting homebuyer sentiment.
• Notable Context: Anxiety is growing around financial institutions and the knock-on effects in real estate.

“Markets are having a little bit of a freak out this morning over the health of regional banks in the U.S.”
— Sabri Benashour [01:01]

---

2. Home Improvement Market Expected to Grow

[01:51–03:41]

A. Homeowner Sentiments and Spending

• Savannah Peters (Marketplace) covers spending trends in the home improvement sector post-home purchase.
• Jamie Katz (Morningstar, townhouse owner near Chicago) shares personal and market insights:
  • Aesthetics and necessary upgrades (e.g., repainting, roofing) are top of mind.

“Everybody puts their own personal touch on their space when they move into it.”
— Jamie Katz [02:09]

B. Economic Forces Shaping Renovation

• Rachel Drew (Harvard’s Joint Center for Housing Studies):
  • Home improvement spending is forecasted to increase as housing market activity picks up.
  • The Joint Center’s leading indicator on remodeling is tracked quarterly as renovations cover “99% of our housing stock in 2026.” [02:49]
  • Rising costs of materials might temper demand, but many homeowners, locked into low pandemic-era mortgage rates, prefer renovating over moving.

“We think that's going to help unlock some of the pent up demand from buyers and get a few of them off the sidelines.”
— Rachel Drew [02:29]

“A $50,000 addition is going to be so much less than starting over in this tougher housing market.”
— Jamie Katz [03:14–03:18]

---

3. The Future of Fats: Sustainable Food Innovation

[04:45–07:53]

A. Why Fats Matter for Climate and Agriculture

• Sabri Benashour links food production—particularly fats—with environmental pressures.
  • Highlights that 2 in 5 acres of habitable land are used for agriculture, much of it due to fat production (butter, palm oil).

B. “How We Survive” Podcast Feature: Alternative Fats

• Amy Scott (Host of How We Survive) visits Starter Bakery (Berkeley, CA) to explore new frontiers in food tech.
• Kathleen Alexander (CEO, Savor) introduces their “carbon-based” butter alternative:
  • Savor creates fats synthetically using carbon dioxide or methane, hydrogen, and oxygen, circumventing livestock or crops.
  • “We do it thermosynthetically so we take energy in the form of heat and then assemble those molecules outside of the organism.” [06:27]
  • Product is currently expensive but aims to match dairy butter costs by 2029.

“The fats and oils that we are producing at Savor use the smallest possible footprint compared to traditional sources of agriculture.”
— Kathleen Alexander [05:45]

C. How Does It Taste?

• Amy Scott and Brian Wood (Bakery Owner) sample croissants made with Savor’s butter:
  • Woody: “Here's a nice specimen…some very nice shoulders.” [07:08]
  • Amy: “Mmm. I mean it's really good. Yeah, I notice a lack of butter, but I don't miss — feels oily, which I like. Yeah, I'm gonna keep eating it.” [07:17]
  • Bakery plans to sell small batches next year, appealing to those seeking to reduce animal product consumption.

---

Notable Quotes & Memorable Moments

• “Markets are having a little bit of a freak out this morning over the health of regional banks in the U.S.”
  — Sabri Benashour [01:01]

• “Everybody puts their own personal touch on their space when they move into it.”
  — Jamie Katz [02:09]

• “We think that's going to help unlock some of the pent up demand from buyers and get a few of them off the sidelines.”
  — Rachel Drew [02:29]

• “The fats and oils that we are producing at Savor use the smallest possible footprint compared to traditional sources of agriculture.”
  — Kathleen Alexander [05:45]

• “Mmm. I mean it's really good. Yeah, I notice a lack of butter, but I don’t miss — feels oily, which I like. Yeah, I'm gonna keep eating it. So yeah, not butter, but an alternative…”
  — Amy Scott [07:17]

---

Timestamps for Important Segments

• Regional banks and market update: [01:01–01:51]
• Home improvement trends and analysis: [01:51–03:41]
• The food-agriculture climate connection (preface): [04:45–05:16]
• Alternative fats interview and taste-test: [05:16–07:53]

---

Tone & Style

The episode maintains a brisk, informative, and measured tone typical of Marketplace Morning Report, blending economic analysis with accessible, real-world examples. Firsthand homeowner interviews and expert commentary inject both authority and relatability.

---

For Further Exploration

• For more on sustainable food and agriculture tech, listen to Amy Scott’s deeper explorations in “How We Survive.”
• For ongoing news on U.S. and global business, tune in each morning to Marketplace’s updates.

---

This summary omits advertisements and non-content sections as per instructions.

Transcript

[A]

And now a next level moment from ATT Business. Say you've sent out a gigantic shipment of pillows and they need to be there in time for International Sleep day. You've got AT and T5G so you're fully confident, but the vendor isn't responding and International Sleep Day is tomorrow. Luckily, AT&T 5G lets you deal with any issues with ease, so the pillows will get delivered and everyone can sleep soundly, especially you. AT&T5G requires a compatible plan and device coverage not available everywhere. Learn [e-mail] 5G Network.

[B]

This podcast is supported by Odoo. Some say Odoo business management software is like fertilizer for businesses because the simple, efficient software promotes growth. Others say Odoo is like a magic beanstalk because it scales with you and is magically affordable. And some describe Odoo's programs for manufacturing, accounting and more as building blocks for creating a custom software suite. So Odoo is Fertilizer Magic beanstalk building blocks for business Odoo exactly what businesses need. Sign [e-mail], that's O D O O.com.

[C]

Are regional banks okay, From Marketplace, I'm Sabri Benishour in for David Brancaccio. Markets are having a little bit of a freak out this morning over the health of regional banks in the U.S. salt Lake City based Zions bank and Phoenix based Western alliance bank said some of their loans had gone bad due to fraud. These were loans to investors who put money into distressed commercial mortgages, adding to the anxiety. JP Morgan CEO Jamie Dimon warned about cockroaches in the economy, referring to bad debt. Mortgage rates fell again this week to an average of 6.27%, according to Freddie Mac. Will that get more people to buy and sell homes? We'll see. But spending on home improvement is expected to grow in the next year. That's according to new research out from Harvard's Joint center on Housing Studies. Marketplace's Savannah Peters has more.

[D]

Jamie Katz recently bought a townhouse outside of Chicago.

[E]

I need to paint for sure. The entire place is gray, like every wall.

[D]

Katz, who follows home improvement retailers from Morningstar, says this is the kind of stuff people spend money on after they buy a house.

[E]

Everybody puts their own personal touch on their space when they move into it.

[D]

To better suit their tastes or because it turns out the place needs a new roof. That's why momentum in the housing market portends more spending on home renovation spending, says Rachel Drew with Harvard's Joint center for Housing Studies.

[F]

We think that's going to help unlock some of the pent up demand from buyers and get a few of them off the sidelines.

[D]

The center publishes its leading indicator of remodeling activity once a quarter because really.

[F]

The remodeling market covers everything that is done to existing housing, which is 99%.

[D]

Of our housing stock in 2026. Drew says the rising cost of building materials will keep a lid on growing demand for home improvements. Another thing driving that demand? The ultra low mortgage rates some buyers locked in during the pandemic. Jamie Katz with Morningstar says when those homeowners want or need something different out of their space, the math sounds something like this.

[E]

A $50,000 addition is going to be.

[D]

So much less than starting over in this tougher housing market. I'm Savannah Peters for Marketplace.

[G]

Why travel the pass this winter when you can go straight to the gate? The Tri Cities Airport is the easy choice for your next trip. Whether you're flying to secure that next big deal or visiting family, PSC is your convenient connection to wherever you're headed next. With 10 non stop destinations and more than 20 daily flights, it's a smooth start to your next trip. Start here, go anywhere. PSC the warm welcome you deserve this season.

[H]

It's Cybersecurity awareness month and LifeLock is here with tips to help protect your identity. Use strong passwords, set up multi factor authentication and report phishing scams. And for comprehensive identity protection, LifeLock is your best choice. LifeLock alerts you to suspicious uses of your personal information and also fixes identity theft. Guaranteed or your money back. Stay smart, stay safe and stay protected with a 30 day free trial at lifelock.com Specialoffer terms apply fats are critical.

[C]

For the human diet. They also take a lot of climate changing resources to produce butter from methane emitting cows, palm oil from plantations that replace forests. The fat supply chain is part of modern agriculture and it is one reason why two out of every five acres of habitable land on the planet are used for agriculture. In the newest season of Marketplaces podcast, How We Survive, host Amy Scott explores solutions to our food and agriculture system problems, including the facts of the future.

[E]

Here's Amy I'm at Starter Bakery in Berkeley, California. It's a wholesale bakery that supplies bread and pastries all around the Bay Area. This is the Croissant Room. Owner Brian Wood is preparing a croissant for me.

[D]

This was a special batch we made for today.

[E]

Special because it's made with an alternative butter from a company called Savor that makes fats out of carbon.

[F]

The fats and oils that we are producing at Savor use the smallest possible footprint compared to traditional sources of agriculture.

[E]

Kathleen Alexander is the CEO and co founder of Savor. How do you turn carbon into fat and why carbon?

[F]

Why carbon is because the fats that you eat today are mostly made up.

[E]

Of carbon plus hydrogen and oxygen. Savor takes carbon from carbon dioxide or methane, which the company sources as a byproduct from dairies, cement plants and power plants. They combine that with hydrogen and oxygen and add heat, bypassing the need for a plant or cow.

[F]

We do it thermosynthetically so we take energy in the form of heat and then assemble those molecules outside of the organism.

[E]

From there, they can make fats and oils that mimic those we use in cooking and baking. Right now. It's expensive to make, but Alexander says the company is on track to be able to compete with the cost of dairy butter by 2029. Cost is just one piece of the equation, though. How does it taste? At starter bakery, Brian Wood slices into a croissant made with Savor butter. He says it's still in R and D mode.

[D]

Here's a nice specimen which has some very nice shoulders. You can see the very delicate layers of dough on the outside.

[E]

I never thought of Christopher is having shoulders. Mmm. I mean it's really good. Yeah, I notice a lack of butter, but I don't miss feels oily, which I like. Yeah, I'm gonna keep eating it. So yeah, not butter, but an alternative for people who want to consume fewer animal products. Wood says he's planning to start selling small batches of the croissants next year. I'm Amy Scott for Marketplace.

[C]

For more from Amy's food tour of the future, check out the new season of How We Survive. You can find it wherever you listen to your podcasts. Our executive producer is Nancy Fargali. Our digital team includes Antoinette Brock, Emily McCune and Dylan Nietinen. Our engineers are Rachel Brees and Tessa Block. In New York. I'm Sabri Benishore with the Marketplace Morning.

[E]

Report.

[C]

From APM American Public Media.

[E]

How did we go from free range chicken and grass fed beef to lab grown meat?

[B]

It's just this very simple notion that basically the animals that we eat are using an awful lot of the earth and it's one of those things that once you see it, you can't unsee it.

[E]

I'm Amy Scott and this week on How We Survive, we travel to San Francisco to meet someone who went from growing human heart cells to producing cell cultivated salmon. Could it be the future of meat? Listen to how we survive on your favorite podcast app.