Podcast
The REconomy Podcast
Hosted by First American · EN
First American’s economic podcast examining the forces that influence real estate, housing and affordability, featuring First American Chief Economist Mark Fleming, Ph.D. and Deputy Chief Economist Odeta Kushi.
24episodes
Episodes
Newest firstAll episodes
CRE Mid-Year Outlook: The Great Repricing Is Mostly Over. Now What? - EP 147
6d ago00:15:35Tap to summarizeIn 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’t miss a single REconomy episode, subscribe today.
Transcribe →2026 Mid-Year Outlook: What to Expect from the Housing Market for the Rest of the Year - EP 146
3w ago00:13:04Tap to summarizeIn 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 of jobs, incomes, demographics and supply signal about what’s ahead. Don’t miss a single REconomy episode, subscribe today.
Transcribe →The Overlooked Infrastructure Underpinning America’s $5 Trillion Real Estate Economy - EP 145
Jul 100:14:23Tap to summarizeIn 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 property records qualify as critical economic infrastructure — all in honor of America's 250th anniversary and the enduring legacy of Kurt Pfotenhauer, First American Title's former vice chairman. Don’t miss a single REconomy episode, subscribe today. 1 The National Association of Home Builders (NAHB), using data from the U.S. Bureau of Economic Analysis (BEA), reported that housing's share of U.S. GDP was approximately 16.1% in 2024, equivalent to roughly $4.7–$5.0 trillion annually based on U.S. GDP.
Transcribe →Data Center Demand, it’s Not Just an AI Story - EP 144
Jun 1800:12:48Tap to summarizeIn 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 new data center supply. Don’t miss a single REconomy episode, subscribe today.
Transcribe →Four Million Missing Home Sales: The Hidden Scale of America's Pent-Up Housing Demand - EP 143
Jun 400:14:21Tap to summarizeIn 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 housing market is short more than four million sales since the pandemic, and why the demographic case for future housing demand remains firmly intact. Don’t miss a single REconomy episode, subscribe today.
Transcribe →Is This the End of the ‘Extend and Pretend’ Era? - EP 142
May 2100:15:28Tap to summarizeIn 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.
Transcribe →Tracing Housing Affordability Across Generations – Who Had It Worse? - EP 141
May 700:14:14Tap to summarizeIn 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.
Transcribe →Are Retail Property Prices Really Falling? - EP 140
Apr 2400:12:30Tap to summarizeIn 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.
Transcribe →Industrial Cap Rates Stabilize After Pandemic Volatility - EP 139
Apr 900:16:13Tap to summarizeIn 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.
Transcribe →Will Rising Energy Prices Scramble the Spring Home-Buying Season? - EP 138
Mar 2600:18:36Tap to summarizeIn 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.
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