The MultiGreen Podcast

Attainable Demographics and the Shifts Ahead with John Burns

Season 01 | Episode 11

In this episode, Randy C. Norton, Founder and Chairman of MultiGreen and John Burns, CEO and Founder of John Burns Real Estate Consulting (JBREC), explore how the interplay of supply-side issues, government policy, and consumer choices affect housing markets. They identify key contributors to relative market stability and examine demographic elements playing a key role in driving real estate trends.

(1:10) Impact of money supply on inflation(2:20) Effect of recent federal stimulus initiatives on real estate markets(3:20) Labor and housing markets are giving conflicting signals about “people supply”(4:15) Demographics and inflation as key considerations along with location(5:35) Potential effect of inflation on 30-year fixed mortgage rates(6:25) Federal government’s significant ownership of US mortgages(6:55) Potential of domestic real estate markets to be stable(7:25) Yield curve interpretation and manipulation(8:20) How individuals’ decisions determine whether federal stimulus creates inflation(9:43) How consumers are achieving affordability in the face of housing market chaos(11:18) The varied extent of increased rent nationwide(12:20) Whether current levels of home price appreciation are sustainable(13:10) Why Las Vegas is currently leading the US in employment growth(14:18) Demographic and geopolitical causes of growth in the west, southwest, and southeast(15:20) Unpacking assumptions in inventory shortage estimates to get a more accurate measure(17:20) How housing prices and rents react to supply issues and broader economic events(18:03) How long it will take to resolve the supply shortage(18:45) Understanding and measuring housing supply that is not yet fully accounted for(19:55) Role of high-risk activities as contributors to recession(22:30) Whether we have a housing crisis depends on who you ask(23:35) How Burns defines attainability

Additional mentionsMilton Friedman Jonathan GrayBruce FlattLabor shortage inspiring restaurants to offer worker incentives  Big Shifts Ahead (By Chris Porter and John Burns)Federal ReserveMortgage backed securitiesYield curveSurprising supply elements delaying home building nationwideBaby BoomersShadow inventorySubprime mortgagesAmerican Dream

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Attainable Econometrics and Demographic Inputs with Dennis McGill

Season 01 | Episode 10

In this episode, Randy C. Norton, Founder and Chairman of MultiGreen, interviews Dennis McGill, principal and Director of Research at Zelman & Associates. They discuss the possibility that the housing market is entering an overbuild cycle, and how the pandemic and current economic conditions may impact homebuilding.

(1:04) How Dennis started working with Ivy Zelman and co-founded Zelman & Associates(3:26) Zelman’s analysis during the 2007 subprime crisis(5:13) Current market conditions — market outlook is optimistic(6:59) Risk of overbuild cycle, but slow supply chain has increased delivery times(8:45) The supply deficit argument is uninformed(10:13) Pandemic’s influence on primary household formation — mostly negative(12:10) Demographic impacts on housing supply are often misunderstood(15:19) Consumers choose the type of housing before deciding to own vs. Rent(17:42) Current affordability crisis is worse than in 2017, especially for lower incomes(20:38) How inflation hurts the real estate market(24:34) Urban multi-family may be where growth is headed in the housing market(26:18) For Dennis, attainability means income should keep pace with housing costs

Additional mentionsIvy Zelman Subprime Crisis of 2007Harvard Joint Center for Housing StudiesNational Association of Realtors reports2010 Census: Housing2020 Census: HousingMultiGreen’s Housing Goal

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Golden Gates: Fighting for Housing in America with Conor Dougherty

Season 01 | Episode 09

In this episode, Randy C. Norton, Founder and Chairman of MultiGreen, speaks with Conor Dougherty, economics reporter for the New York Times and the author of Golden Gates: Fighting for Housing in America. They discuss Conor’s reporting from the front lines of the housing crisis, and how there are some hopeful signs amid a dire situation.

(2:07) The Bay Area pioneered many of the concepts that create difficulties in building housing(3:23) Bay Area was also home to the Yes-In-My-Backyard movement in support of housing(4:37) The former City Manager of Lafayette, CA fought 10 years to develop one land parcel(9:06) In California and other states, legislation is moving too slowly to address housing needs(12:53) A conflict over rent increases in North Fair Oaks results in unintended consequences (17:00) New multi-family housing near public transit can address the key challenges of our time(20:20) Attainability requires affordable housing options and renters should be free to use them

Additional mentionsNIMBYismGrowth ControlYIMBYismSteven Falk’s Fight Against NIMBYismMcKinsey Report on California’s Housing GapCommunity Land TrustAttainability

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Housing and The City: A Quality of Life with Debra March

Season 01 | Episode 08

In this episode, Randy C. Norton, Founder and Chairman of MultiGreen, speaks with Mayor Debra March of Henderson, Nevada — Randy’s home city! Mayor March is an active member of the Urban Land Institute Nevada District Council and NAIOP Southern Nevada. Previously, she led UNLV’s Lied Center for Real Estate Studies. They discuss the rapid growth Henderson has experienced, and how the city is finding innovative, sustainable solutions to the housing crisis.

(1:29) Nevada’s fastest-growing city, Henderson, needs 117,000 new homes to fix the shortage(3:14) Allocated funds and updated building codes are supporting affordable development(7:21) Affordable housing projects need new financial tools to offset increased building costs(11:54) Henderson’s downtown quality of life has improved through multi-use development(12:36) MultiGreen is working on a project with 336 energy-efficient, sustainable housing units(14:16) Utilizing Henderson’s new energy efficiency financing program(16:47) Addressing vital water management issues via partnership with California(19:10) To Mayor March, attainable housing means high quality of life for all income levels

Additional mentions Accessory Dwelling Units Single-family Attached HousingCommunity Land TrustsThe Watermark ProjecttheAPEX @galleriaC-PACE Financing ProgramSaving Water in the Driest State Missing Middle

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Housing and The State: An American Dream with Sean Reyes

Season 01 | Episode 07

In this episode, Randy C. Norton, Founder and Chairman of MultiGreen, speaks with Sean Reyes, Attorney General of Utah. They discuss the relationship between stable housing and solving the problems of crime, mental health, addiction, and more.

(1:10) Utah is financially strong and leads other states in many measures of economic growth(6:02) Reyes’ family influences and inspiration to do public service(18:52) Supporting parents through a child identification initiative(25:25) Housing attainability and stability support wellness and reduces crime(30:45) Utah’s ski resorts do well but housing scarcity for their workers hurts local economies(37:06) Recognition of the US’s strengths in its capital markets and legal system(38:13) To Reyes, attainability is the opportunity to fully live the American dream

Additional mentionsAAA Bond RatingsRamon MagsaysayChild Identification Kits Housing Cost Effects on Utah’s Ski Resort Staff and CommunitiesEconomist Robert ShillerAttainability

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Housing and Politics: A Beacon of Hope with Ben Carson

Season 01 | Episode 06

In this episode, former Secretary of the U.S. Department of Housing and Urban Development (HUD), Ben Carson, M.D., and Randy C. Norton, Founder and Chairman of MultiGreen, discuss public and private partnerships focused on housing attainability. They explore how those sectors can work together to strengthen communities while revitalizing the American spirit of innovation and collaboration.

(1:20) Why Randy's family reveres Dr. Carson(2:45) Honors Dr. Carson has received(3:43) How Dr. Carson's HUD work influenced MultiGreen(4:02) MultiGreen's 2030 goal(4:12) Dr. Carson's impact at HUD(4:30) A successful public/private housing partnership(5:44) HUD's support of home ownership, communities and equity(7:41) Helping children who age-out of foster care(9:28) How HUD convenes people to address affordable housing(11:38) How to mobilize national action on the housing crisis(13:40) How housing fits ACI's "Strengthening the Community" cornerstone(14:35) Sources of America's national strengths(15:44) Rebuilding a cohesive American society(18:50) How public & private sectors can support attainability(20:17) How to support the American Cornerstone Institute, a “Do Tank”(22:06) Dr. Carson's advice for MultiGreen(24:02) What attainability means to Dr. Carson(25:21) Housing's need for collaboration in legislation

Additional mentionsUS Department of Housing and Urban Development (HUD)American Cornerstone Institute (ACI)Hydrocephalus The Ben Carson StoryWhy America MattersPresidential Medal of FreedomNational Academy of MedicineOpportunity ZonesFoster Youth to Independence Initiative (FYI)EnVision CentersWhite House Council on Removing Regulatory Barriers to Affordable HousingIndiana Senator Todd YoungLos Angeles Mayor Eric Garcetti

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Housing and Government: An Essential Infrastructure with Henry Cisneros

Season 01 | Episode 05

In this episode, Randy C. Norton of MultiGreen speaks with Henry Cisneros, former U.S. Secretary for U.S. Department of Housing and Urban Development (HUD), and current Chairman of American Triple I. They discuss Cisneros’ knowledge and experience surrounding housing and examine future opportunities to solve the current housing shortage.

(2:41) Houston, Dallas/Ft. Worth, and Austin/San Antonio have collectively become a vital hub(4:25) Cisneros’ academic career, including his focus on making cities inclusive and equitable(11:24) A minimum wage earner can’t afford a two-bedroom apartment in any U.S metro area(14:26) Differing home ownership rates by race represent unequal access to opportunity (15:00) What is the difference between affordability vs. attainability?(18:14) Cisneros’ leadership in considering the needs of an ever-growing U.S senior population(20:22) Racial discrimination in the U.S. housing market is still present(23:56) Cisneros founded an organization focused on building workforce housing in U.S cities(29:28) As local governments can’t bear the costs of housing alone, partnerships are needed(31:18) Cisneros’s education policy and advisory board experience(34:18) To Cisneros, attainability means housing that does not serve as a source of stress

Additional mentionsTexas Triangle Texas A&M UniversityHarvard Kennedy SchoolGeorge Washington UniversityWages Needed to Afford a Two-bedroom Rental HomeHome Ownership Rates and RaceBipartisan Policy CenterSenior Health and Housing Task ForceUrban Institute Studies on Housing DiscriminationCityViewPublic/Private PartnershipsBill and Melinda Gates FoundationAttainability

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Bipartisan Housing and Infrastructure Projects with Andy Winkler

Season 01 | Episode 04

In this episode, Randy C. Norton, Founder and Chairman of MultiGreen, speaks with Andy Winkler of the Bipartisan Policy Center. Andy directs BPC’s work on housing and infrastructure projects. Prior to joining BPC, he was the Director of Housing Finance Policy at the American Action Forum, and has also worked as a policy analyst on housing and economics.

(1:00) Viewed as infrastructure, housing is intertwined with all other community systems(3:27) Are infrastructure policies like “Build Back Better” sustainable?(5:20) The BPC’s exploration of bipartisan financial and supply-side housing solutions(6:42) Obstacles to solving the housing crisis include zoning and land use restrictions(9:13) Housing affordability causes migrations which threaten growth and infrastructure(12:51) Policymakers can learn from the experience of MultiGreen and other stakeholders(15:05) Attainability defined as providing sufficient variety and supply of housing options

Additional mentions Build Back Better Act Housing CouncilUS Zoning LawsPhoenix’s Land Use Policies Inflate RentsCalifornia to Nevada Migration Fueled By Housing PricesHousing Price Spikes in Idaho and Utah

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen Podcast Follow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Bipartisan Housing Policy with Dennis Shea

Season 01 | Episode 03

In this episode, Randy C. Norton travels to Washington DC and speaks with Dennis Shea, Executive Director of the J. Ronald Terwilliger Center for Housing Policy, part of the Bipartisan Policy Center. Before his work with the BPC, Dennis served in numerous roles in government, including Assistant Secretary at the U.S. Department of Housing and Urban Development, Ambassador to the WTO, and Deputy Chief of Staff to Senate Majority Leader Bob Dole.

(1:00) Dennis’ early work for the late Senator Bob Dole, founder of the Bipartisan Policy Center(3:16) Origins of the BPC’s new Terwilliger Center(6:34) Stable and affordable housing is foundational for health, education, and opportunity(7:30) Addressing the US’s affordable home shortage is the Terwilliger Center’s primary focus(9:15) Over the past 20 years, housing has been underbuilt by 5.5 - 6.8 million units(10:25) There is bipartisan support for legislation and regulatory reform to support development(13:16) In Phoenix, MultiGreen has experienced restrictions that federal intervention could fix(16:00) The BPC will showcase areas that have broadly incorporated inclusive housing(18:48) Demographic changes are creating demands that suitable housing is needed to address(21:58) MultiGreen’s theme this year is attainability – suitable housing that a family can afford

Additional mentionsSenator Bob DoleBipartisan Policy CenterNational Association of Realtors ReportExpanding the Low-Income Housing Tax CreditNeighborhood Homes Investment ActDensity and Local Zoning Restrictions in PhoenixDemographic changes in the USHousing Attainability

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.  Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).

Defining Attainability with Nkoyo Iyamba

Season 01 | Episode 02

In this episode, journalist Nkoyo Iyamba interviews Randy C. Norton, Founder and Chairman of MultiGreen. They discuss the current housing supply crisis and how MultiGreen is designing solutions for attainable, sustainable, and tech-enabled housing in Western states and beyond.

(0:46) US housing crisis features unaffordable rentals and unequal home ownership(2:24) Overview of the housing market’s supply-and-demand problem(3:20) MultiGreen’s focus on attainable, sustainable, and tech-enabled multi-family homes(4:27) Urban Land Institute’s definition of “workforce housing”(6:02) Ten markets with job growth and a housing supply gap(9:04) Limitations preventing the use of federal development funds(14:26) Despite opposition, research shows workforce housing raises property values(18:05) Defining housing as infrastructure would generate investment and capital(21:15) Building the first LEED Platinum multi-family project in New Mexico(25:16) Energy efficient designs in creating Net-zero outcomes(27:07) Incorporating high tech, user-friendly elements into the MultiGreen design(34:43) MultiGreen’s goal is ambitious, but only represents 1% of needed housing

Additional mentions State of the Nation’s Housing 2020 Report Harvard’s Joint Center for Housing StudiesNicole FriedmanDefining the Supply and Demand ProblemDefining Housing AttainabilityULIWorkforce Plus™Colorado SunNIMBYismAffordable Housing Increases Nearby Property ValuesLEED CertificationNet-zero Energy EfficiencyMicrogridsFiber OpticsMultiGreen’s Housing Goal

Let us know your thoughts on this episode!Explore the United Nations Sustainability Development GoalsStart a conversation with #ThinkMultiGreen #WorkforcePlus #ProfitWithPurpose #Attainability

Subscribe to The MultiGreen PodcastFollow us on LinkedIn, YouTube, Twitter, Instagram and Facebook @ThinkMultiGreen

Learn more at www.multi.green

© 2019-2021 MultiGreen Properties, LLC. All Rights Reserved.  Securities offered through i(x) Securities, LLC (Member of FINRA and SIPC).