By CoreLogic
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The podcast currently has 103 episodes available.
Affordability remains a persistent challenge in the U.S. housing market. With increasing concerns over housing costs, particularly post-pandemic, the affordability crisis has grown to affect millions of households across the country.
With nearly one-third of American households now considered cost burdened, the crisis has reached national prominence, even making its way into recent presidential addresses.
In this episode of Core Conversations, CoreLogic Senior Vice President of Public Policy and Industry Relations, Pete Carroll discusses key factors behind this, including income inequality, the undersupply of housing, and outdated zoning laws.
Carroll also touches on potential solutions like light-touch density, alternative housing types like townhomes and tiny homes, and the role of government land and subsidies in addressing the crisis.
Whether you’re a homebuyer, policymaker, or industry professional, this episode unpacks the realities behind America's housing affordability crisis and discusses what it will take to find lasting solutions.
In This Episode:2:18 – What exactly is the definition of “affordability” and how big of an issue is it across the U.S.?
5:06 – Do certain areas of the country or particular populations have a more pronounced affordability problem?
6:26 – How did we get into this affordability crisis?
10:13 – Are homebuyers even looking for single-family homes? Are starter homes at the crux of the affordability issue?
11:28 – What are the opportunities to lessen the burden of homeownership?
14:41 – Erika Stanley does the numbers in the housing market in The Sip.
16:27 – How does zoning affect affordability?
20:27 – How do building codes affect affordability?
23:31 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
24:08 – What are the first steps to “curing” the affordability crisis in the U.S.?
Up Next: What Is the Affordable Housing Crisis?
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
As cities across the country grapple with the rise of platforms like Airbnb and VRBO, the implications for the property industry are becoming more complex. How do you accurately value a property that doubles as a business? What happens when local regulations change?
Despite the lingering questions in the industry, the rising demand for vacation homes and the allure of short-term rental platforms have carved out a significant niche in the market.
However, their increasing popularity brings new challenges, particularly for appraisers, lenders, and underwriters who must navigate the complexities of valuing these unique assets.
As housing affordability concerns grow and the U.S. faces a persistent housing shortage, some communities are clamping down on short-term rentals and imposing stricter regulations. Yet, despite these restrictions, short-term rentals are far from disappearing. Instead, they’re evolving, requiring a fresh approach to property valuation that considers not just the physical attributes of a home, but its potential as a revenue-generating business.
In This Episode:2:19 – Why are short-term rentals (STR) currently a hot topic in the appraiser industry?
3:38 – Why does the business aspect of an STR make it unique for valuation?
8:34 – What happens when an owner-occupied property is turned into a STR? Does the valuation change?
10:00 – Can any appraiser value an STR?
12:52 – How do 1007 forms apply to STRs?
16:08 – Erika Stanley does the numbers in the housing market in The Sip.
17:28 – What happens if a homeowners association steps in and determines that STRs are no longer allowed?
20:01 – What does the process of getting a loan on a STR look like?
22:45 – Where are things headed for appraisers looking to value STRs?
25:32 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
Up Next: Appraising PropTech Innovation: Do Short-Term Changes Have Long-Term Effects?
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
Extreme heat doesn’t just challenge our physical endurance; it has a ripple effect on nearly every aspect of our lives.
From contributing to the intensification of natural disasters like hurricanes and wildfires to affecting property values, insurance risks, and even migration patterns, rising temperatures are worth paying attention to.
As natural disasters continue to accelerate in pace and intensity, it’s becoming clear that both homeowners and businesses must adapt to a new normal—one where extreme heat and its related perils are key considerations in every decision.
In this conversation, host Maiclaire Bolton Smith talks to CoreLogic's Chief Scientist, Dr. Howard Botts to discuss how extreme heat is reshaping the property landscape. The conversation touches on the evolving risks that both homeowners and insurers must navigate as well as how extreme heat is affecting business considerations.
As the conversation explores these challenges, the pair also looks at how communities and businesses are beginning to adapt, using new technologies and strategies to build resilience against a hotter future.
In This Episode:2:08 – What is extreme heat, scientifically speaking?
5:10 – What are the impacts of extreme heat from a property perspective?
7:12 – How many U.S. properties are exposed to extreme heat and what is the value of those exposed properties?
10:03 – Erika Stanley does the numbers in the housing market in The Sip.
11:27 – How will additional days of extreme heat make natural disaster events worse?
15:53 – What are the knock-on effects of accelerating natural disasters on climate change?
19:22 – Do businesses have extreme heat on the radar as a peril that affects bottom lines?
21:03 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
22:51 – How will extreme heat affect land-use planning and climate resiliency?
Up Next: The Most Climate-Resilient Places to Live in the US According to Data Science
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
Have you ever wondered what happens to communities when climate change forces people to move?
The economic and social ramifications are both complex and far-reaching. From community fragmentation to insurers potentially refusing coverage in high-risk areas, there are profound consequences stemming from not adapting to a climate in which natural disasters are accelerating.
Dr. Kaitlin Raimi, an associate professor of public policy at the University of Michigan, has researched the multifaceted nature of climate migration, and in this episode of Core Conversations, she sits down with host Maiclaire Bolton Smith to examine how regions like the Rust Belt might emerge as new havens for climate migrants and what measures communities can adopt to enhance their resilience. Dr. Raimi and Maiclaire also discuss the potential for policies to help communities adapt and support their residents in the face of climate change.
In this episode, explore how Americans view climate migrants, how policies could become a crucial factor influencing climate migration, and what the broader impacts of migration may mean for American society and the economy.
In This Episode:1:38 – What is climate migration and where do migrants typically originate from?
3:32 – How is the U.S. public reacting to major natural disasters and how are these disasters influencing migration patterns?
5:06 – Will it require insurers to cease writing new policies to raise awareness about the impact of accelerating natural disasters?
8:30 – How are U.S. communities perceiving the influx of migrants from wildfire-prone or hurricane-prone states?
10:38 – Why are the Rust Belt states gaining attention as a climate haven?
12:53 – Erika Stanley goes over the numbers in the housing market in The Sip.
13:50 – What are some adaptability measure that are available to keep people in their communities?
18:59 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
20:27 – What is the future of climate change migration and what ripple effects will this have at the national level?
Up Next: University of Miami Researcher Weighs in on Key 2024 Hurricanes Season Trends
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
Ever wondered how a hurricane might impact the financial sector, or why granular data on property locations is essential? Curious about how these findings might influence future governmental policies and corporate risk management strategies?
The Federal Reserve Board (FRB) was too. This year, the FRB asked six major U.S. banks to scrutinize their resilience to physical climate risks. This pilot study aimed to understand the financial stability of the mortgage loan ecosystem in the face of accelerating climate risk, and the results revealed significant data gaps and reliability issues that banks need to address.
The identification of these gaps underscores the need for detailed, data-driven understanding when measuring the evolving impact of climate risk.
To discuss the link between understanding climate risk and financial stability, Kent David, Director of Hazard Science and Analytics Consulting, and George Gallagher, Director of Climate Risk and Natural Hazard Solutions join Core Conversations host Maiclaire Bolton Smith.
In this episode, the trio discusses how the banks approached climate risk, the challenges of integrating granular data, and the critical importance of understanding insurance market dynamics in this context.
In This Episode:2:08 – Why is the Federal Reserve Board (FRB) looking at the intersection between climate risk modeling and enterprise risk management?
5:09 – What exactly did the FRB find in their pilot study?
8:15 – Erika Stanley goes over the numbers in the housing market in The Sip.
9:23 – The FRB study found that there was limited data and limited reliability in model output. What does that mean?
13:40 – How will more granular data help improve models? And what exactly qualifies as quality granular data?
16:45 – Why can’t historical climate patterns be used for forecasting models?
18:27 – What are some of these consequences that the different industries might be facing in the wake of accelerating climate risk?
21:58 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
22:35 – Is it possible to anticipate what may happen long-term with the climate and how it will affect business operations?
Up Next: SEC Climate Disclosure Guidance Timeline Pause: Why Companies Benefit
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
As the 2024 Atlantic hurricane season approaches, the climate signals are anything but typical. The transition from El Niño to La Niña and unprecedented sea surface temperatures in the Atlantic have meteorologists and communities paying close attention to the potential severity and frequency of this year's hurricane potential.
Warmer ocean temperatures can fuel more intense hurricanes that cause widespread destruction, including severe flooding and wind damage, as well as long-term economic and social disruptions. With coastal populations growing, the consequences of a major hurricane can be catastrophic. The combination of this season’s meteorological patterns and growth along the Gulf Coast underscores the need for proactive planning and resilience.
In this episode, Brian McNoldy, a senior research associate at the University of Miami's Rosenstiel School of Marine, Atmospheric, and Earth Science talks to podcast host Maiclaire Bolton Smith to explore the implications of current climate conditions and how they might influence hurricane activity for the 2024 season. The discussion will also include an exploration of how communities should prepare for a hurricane season that is expected to be quite active.
In This Episode:1:55 – What can we expect from the 2024 hurricane season?
3:33 – To what degree do the current metrological phenomena make this season unprecedented?
6:56 – Why didn’t ocean temperatures result in an extreme hurricane season in 2023?
9:17 – Why doesn’t a major hurricane year always equate to a large loss year for insurance?
11:08 – Erika Stanley goes over the numbers in the housing market in The Sip.
12:28 – What does sea level rise mean for hurricane season?
15:06 – Is there still room for the National Hurricane Center to reduce incertitude in its cone of uncertainty models?
19:33 – How do hurricane models differ and how can they be interpreted for different uses?
23:12 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
23:58 – Where can you find more of Brian McNoldy’s research?
Up Next: Building Codes Cost. But What is Resiliency Actually Worth?
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
As the landscape of the housing market continues to evolve, one topic continues to remain at the forefront: affordability.
It’s a topic we frequently explore on this podcast because it touches every facet of the property market, including the rising costs of construction. With more people moving to more affordable regions, there’s a notable impact on both home prices and the costs associated with building new homes.
As inflation remains elevated, people are migrating to more affordable areas, and the construction industry is feeling the strain with a shortage of workers, causing affordability to erode.
Building a house involves numerous components — drywall, copper pipes, shingles, and more. Each of these materials, along with labor costs, plays a significant role in the overall price of construction. While the prices of materials have decreased since their peak during the pandemic, the overall cost of building remains a challenge due to labor shortages and other economic pressures.
To delve deeper into the dynamics between material and labor costs and affordability in the housing market, host Maiclaire Bolton Smith is joined by Jay Thies, associate vice president of Pricing Analysis and Delivery at CoreLogic.
In This Episode:2:30 – What has changed in recent months in terms of construction and labor prices?
5:59 – How will declining material costs influence new construction trends?
7:45 – Erika Stanley goes over the numbers in the housing market in The Sip.
9:24 – There is increasing interest in the construction trades. How will this affect the property market long-term?
12:11 – How are natural catastrophes affecting labor and material costs?
13:31 – Is there a correlation between population migration patterns and the price of labor and materials?
16:29 – In which markets are construction prices cooling off?
17:24 – Crystal Ball: What does the future of labor and material costs look like?
19:35 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
Up Next: Is There Actually a Lumber Shortage?
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
As the frequency and severity of natural catastrophes intensify, the need to strengthen the resiliency of communities against these perils is increasingly urgent. Building codes are a critical tool in this endeavor. However, their adoption and enforcement vary significantly across states. A recent report from the Insurance Institute for Business and Home Safety (IBHS) underscores the lack of uniformity in building code implementation among states vulnerable to hurricanes.
While some states, like Florida, have stringent codes that help to reinforce home resilience, other states like Texas grapple with disparities in code adoption, amplifying vulnerability to hurricane-related damages.
This divergent approach to building codes has far-reaching implications for disaster preparedness and response.
With the arrival of the 2024 hurricane season, understanding the intersection between building codes, community resilience, and climate change is key for entities developing mitigation strategies anchored in resilience.
To talk about the importance of building codes, address concerns regarding up-front costs versus long-term benefits, and discuss the success of stronger structures in weathering storms, Host Maiclaire Bolton Smith is joined by CoreLogic's Director of Catastrophe Response, Jon Schneyer.
In This Episode:2:41 – Why are building codes so important, and how can older buildings be retrofitted to code?
6:18 – Examining one of the most famous examples of building codes in action.
8:04 – Erika Stanley goes over the numbers in the housing market in The Sip.
9:14 – Looking at the differences between Texas and Florida building codes, according to the IBHS report.
11:21 – Is mitigation through building codes a financially sound investment?
14:36 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.
15:41 – What could the inconsistent use of building codes in Texas mean if a strong hurricane hits the state this year?
17:52 – How is hurricane risk developing, and how can you understand your risk?
Up Next: SEC Climate Disclosure Guidance Timeline Pause: Why Companies Benefit
Links:
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
A full 67% of IT senior leaders are prioritizing generative AI for their businesses, according to Salesforce data. This statistic underscores the growing importance of AI in today's business landscape and highlights the urgency of understanding its implications.
Although AI is not new technology, over the past couple of years, it has reshaped industries. But with its rise comes a myriad of questions and concerns, ranging from technical complexities to ethical implications.
From forecasting floods to streamlining insurance claims, AI is revolutionizing how we interact with property data and make decisions. But as we navigate this technological landscape, we must also address the ethical dimensions of AI, ensuring fairness, transparency, and accountability.
In this episode, host Maiclaire Bolton Smith and Amy Gromowski, CoreLogic vice president, head of Data Science, delve into these questions surrounding AI, exploring its potential, challenges, and ethical considerations.
In This Episode:2:35 – Explain AI like I’m a five-year-old.
5:31 – AI not new technology. How long has CoreLogic been using it?
7:05 – Why is data security and integrity so crucial for AI models?
10:03 – Erika Stanley goes over the numbers in the housing market with The Sip.
11:12 – What can we do to limit implicit bias and explicit bias in AI models?
15:52 – What does it mean to responsibly use AI?
18:48 – Erika Stanley talks about what is happening in the world of natural disasters.
20:19 – What will widespread adoption of AI look like for the property industry? Will this ever transpire?
Links:
Up Next: Some Insurers Banned AI — Will Insurtech Bring It Back?
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
As housing prices remain elevated, it's crucial to examine the other side of the coin, where worries about affordability linger despite the substantial equity many homeowners have amassed.
In a housing market characterized by high prices, soaring equity, and ballooning consumer debt, it is worth examining mortgage delinquency and foreclosure rates, which are currently hovering around historic lows.
But what's behind this trend, and what does it signify for the future of the housing market and real estate?
In this episode, host Maiclaire Bolton Smith and CoreLogic Principal Economist Molly Boesel examine the monumental increases in home prices over the past decade, the subsequent strain on affordability, and how these trends have been exacerbated by a surge in mortgage rates and a persistent scarcity of housing supply.
Compounding the market complexity is the relationship between mortgage delinquencies and consumer debt. Nevertheless, amidst these challenges, mortgage delinquencies are at historic lows, buoyed by a robust job market and homeowners' substantial equity cushions.
Maiclaire and Molly unpack how rising prices for essentials like groceries and gas are stretching household budgets and how people can navigate through the uncertainties of potential economic shifts while maintaining an optimistic outlook for the housing market.
In This Episode:Links:
Up Next: Are Investors and Interest Rates Abolishing the Dream of Homeownership?
Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2024 CoreLogic
The podcast currently has 103 episodes available.
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