Market Moves with Mark and Jeff

This week: the $800M deal that just changed the brokerage landscape. Real Brokerage acquired RE/MAX, combining a national network of 8,500 offices with an AI-first platform. Mark and Jeff break down what it means — and whether the tech is actually impressive. Then, a deep dive into China's real estate collapse. Prices are now back to 2005 levels — and at their peak, homes in Beijing and Shenzhen were selling at 30–50x the average household income. Japan 1990s vibes? Mark thinks yes. Plus: the Fed held rates with the most internal dissent since October 1992. Kevin Warsh has cleared the Senate Banking Committee and is headed to the Fed chair seat. And on the AI front — in China, installing OpenClaw is called "raising lobsters," employees get fired for NOT automating enough, but a new Penn/Boston University study warns that mass automation may quietly destroy the consumer economy that makes business work in the first place. Subscribe and follow TUG (@Tug_MarketMoves on X) for daily real estate and market commentary.

Mark rode one of Tesla's first unsupervised robotaxis in Houston — and got stranded at a brewery waiting for the next one. That experience kicks off a conversation about the pace of AI-driven change most people won't see coming until it hits them. Mark and Jeff also debrief from two separate appraisal conferences where AI dominated every room, then break down Kevin Warsh's Senate confirmation hearing for Fed Chair — his push for fewer meetings, Fed independence from political pressure, and why he thinks AI's deflationary impact should reshape how the Fed thinks about interest rates.

Take the Market Moves Challenge! We're your go-to source for what's happening in the economy and why it matters to real estate. Mark and Jeff explore why successful leaders, from America's founders to today's top entrepreneurs, share one critical trait: a bias for action. They also reveal how their AI agent, Tug, is helping power the podcast and invite listeners to connect with him on X and LinkedIn. The conversation then dives into the SaaS valuation meltdown, with many software companies seeing valuations plunge 35% to 86% over the past year. What's driving the collapse? Plus, housing inventory is telling two very different stories: the South and West are back to pre-COVID supply levels, while the Northeast and Midwest remain historically tight. Finally, Mark and Jeff tackle a sacred cow: Is your house really your best investment? Long-term data suggests the stock market may have dramatically outperformed residential real estate over the last several decades.

"Through hell to heaven… grind 'til 2027." That's the mindset Tug brings as Mark and Jeff revisit what it may take for real estate transaction volume to return to historical norms. They also break down why market sentiment, tracked by platforms like Polymarket, is shifting against Fannie Mae exiting conservatorship. What's driving the skepticism? The conversation turns to artificial intelligence and its growing role in valuation: how should it be used, and what guardrails are needed? With the Appraisal Standards Board seeking input on AO-41, the industry may be at a turning point. Plus, a look at consumer sentiment — confidence in the economic outlook is slipping, while expectations for inflation are rising. What does that mean for housing and beyond?

Rising tensions in the Middle East are threatening to stall any momentum in the housing market — but that's only part of the story. Mark and Jeff also introduce something entirely new: their own AI-powered agent, Tug (Two Uninteresting Guys), an "open claw" experiment designed to showcase what's possible in the fast-evolving world of agentic AI. This won't be a one-off; Tug is an ongoing, real-time look at where AI is headed. Meanwhile, this episode breaks down the recent volatility in Fannie Mae. What's behind the sharp decline? What caused this week's sudden bounce? And it's not just homeowners feeling stuck: renters are increasingly "locked in" too, choosing renewals over moving in today's uncertain market. Follow Tug's journey on X (@Tug_MarketMoves) and LinkedIn (Tug Market-Moves-Bot) as Mark and Jeff's AI experiment unfolds.

In a surprise move on Friday the 13th, President Trump issued not one, but two, executive orders aimed at jumpstarting the housing market. What do they actually mean for real estate? Coming to you from San Antonio, Mark and Jeff are joined by friend of the podcast, Scott DiBiasio of the Appraisal Institute, to break it all down. From potential shifts in lending — especially among regional and community banks — to the continued push toward appraisal modernization, these orders could have far-reaching implications across the industry. What's signal, what's noise, and what should real estate professionals be watching next?

Mark and Jeff look back over the past decade to understand how the housing market reached today's unusual crossroads. Starting from the pre-pandemic landscape, they trace the rapid changes that followed — home prices soaring more than 50% since 2020 and the Dow climbing over 100% in just six years, all while housing transaction volumes have fallen to historic lows. Despite the sluggish sales environment, there are growing signs the market could be nearing the recovery that NAR Chief Economist Lawrence Yun has predicted. However, uncertainty remains, including how geopolitical tensions in the Middle East could influence inflation and ultimately the path of interest rates.

Mark and Jeff welcome appraiser and economist Kevin Hecht for a conversation on how money is actually created in today's economy, the current economic landscape, and what it may mean for the housing market and the appraisal profession. While central banks often get the spotlight, they aren't the only institutions that create money. Kevin explains how bank lending expands the money supply and how the way that money flows through the economy can either fuel asset bubbles or support the productive creation of goods and services.

Perspectives on what AI will bring range from dystopian to utopian. A recent article from Citrini Research went viral as a thought experiment imagining what could unfold over the next two years if AI triggered massive job displacement, potentially disrupting employment and, in turn, the broader U.S. economy built on consumer spending. That outlook stands in sharp contrast to the far more optimistic view recently shared by Marc Andreessen, who argues that AI and robotics may be arriving at exactly the right moment to offset demographic shifts across developed nations, where birth rates are falling and retirements are outpacing workforce entrants. Mark and Jeff weigh the merits of both scenarios and what they could mean for the future. https://www.citriniresearch.com/p/2028gic https://www.youtube.com/watch?v=87Pm0SGTtN8 

Is there still room for a winning iBuyer in today's market and could Opendoor be the one to pull it off? Mark and Jeff break down why they believe the model isn't dead yet and what it would take to make it succeed. They also dig into the latest numbers from Doge.gov, showing an estimated $215B in savings — about $1,333 per taxpayer — far short of the original $1T+ projections. What happened and what does it really mean? Plus, an AI reality check: how outdated will today's takes sound just a few years from now? While the future is impossible to predict, one thing is certain: artificial intelligence is poised to reshape the professional landscape in a major way. Finally, Mark and Jeff share their firsthand experience delivering their first UAD 3.6 appraisal report and what they learned from the process.

Dr. Lawrence Yun, chief economist for the National Association of Realtors (NAR), joins Mark and Jeff for a high-level conversation on where the housing market is headed next. NAR is forecasting a 14% jump in existing home sales in 2026 and calling it a potential "year of recovery," but what's changing in the market to support that? They also examine whether Kevin Warsh is the right choice to lead the Federal Reserve, and what new leadership could mean for interest rates and the broader market outlook. While affordability remains a challenge, Dr. Yun highlights a key shift: incomes are now rising faster than home prices, and with mortgage rates hovering near 6%, today may be the most affordable buying window seen in years.

Fresh inflation and jobs data may finally be setting the stage for additional rate cuts, and a new chapter at the Federal Reserve could bring much-needed stability. With Kevin Warsh stepping in as Fed Chair, Mark and Jeff discuss whether the Fed can fade from the national spotlight and refocus on steady, predictable policy. The conversation also dives into Opendoor's strategic pivot toward dramatically higher transaction volume at thinner margins. It's a bold move that raises one big question: can they price homes accurately enough to make it work? To close, Mark and Jeff tackle housing affordability through a different lens. Home prices jumped from $131 per square foot in 2015 to $217 in 2024, but measured in gold, the average home cost roughly 500 ounces in 2002 versus just 76 ounces in 2025. What do these numbers really tell us about affordability, inflation, and value?

Market Moves welcomes the "Queen of Green," Sandy Adomatis, for a deep dive into what green building really means and why it's so often misunderstood. Is sustainability in housing just about solar panels or is there much more beneath the surface? Sandy breaks down the key elements of green construction and energy efficiency, explains why buyers, sellers, agents, and even appraisers struggle to fully recognize and communicate green features, and explores how this knowledge gap impacts valuation and decision-making in today's market. Whether you're in the real estate industry or simply trying to understand the true value of a green home, this episode brings clarity to an important topic that's more complex than many realize. Want to dive deeper? 1. The Appraisal Institute has a Green Appraiser Registry that lists the appraisers that have completed 28 hours of green building valuation education. 2. The Appraisal Institute library of Green Classes is available online or in-person. 3. The RESNET Appraiser Registry offers appraisers access to HERS ratings at no charge. This portal gives the rating, energy usage estimated, savings amount, and verifies Energy Star ratings. 4. The Appraisal Institute Residential Green and Energy Efficient Addendum is a communication tool builders and others should use to identify the features in a home. These are great for model homes, should be attached to a contract, given to the lender, appraiser, and agent. It is most useful for appraisers to understand why a home should sell for more. 5. Interview with Sara Gutterman 6. https://www.pvvalue.com/ is an excellent tool for appraisers, real estate agents, homeowners, and lenders. It provides a value of the energy produced by solar PV. It is a good consulting tool to assist homeowners in right sizing the system to maximize the return on the investment. 7. https://us.greenbuildingregistry.com/ is a free database that lists a large number of homes and multiunit with green and energy features. It is helpful to assist appraisers in identifying market acceptance and green growth patterns.

What once sounded like a joke is now a serious conversation: the U.S. purchasing Greenland. Mark and Jeff unpack how the idea moved from far-fetched to plausible, including a surprising "land comp" offered by Putin, plus another unconventional comparison they dig up themselves. The conversation then turns to a housing market sending mixed signals. Jeff diagnoses the market with "schizophrenia" as NAR reports a sharp drop in pending home sales, while friend of the pod and mortgage broker John Downs reports more lending interest in the first two weeks of 2026 than in all of Q1 2025. So which data matters? What's the market really telling us?

It's time for our 2026 real estate predictions and we want to know yours (join us in the comments)! We may just have to give away a trophy or invite the prediction winner to be a guest on the show. A new Federal Reserve Chair, a lower federal funds rate, sweeping housing policy proposals, and rapid advances in artificial intelligence are setting the stage for a transformative 2026. Change is coming and the real estate and mortgage markets won't be immune. Market Moves Hosts Mark Verrett and Jeff Morley go out on a limb with their 2026 predictions across a wide range of real estate and business topics, breaking down what could matter most in the year ahead. Where do you land? What do you think will actually happen in 2026?

It's time for the 2025 predictions recap. Jeff takes the "Nostradamus" win, edging out Mark 4–3. From rate cuts and mortgage rates to the S&P, Fannie Mae stock, the Fed Chair's future, and median home prices, Mark and Jeff break down what they got right, what they missed, plus the market conditions and thinking in mid-2025 that shaped those calls. The conversation also tackles major headlines, including the administration's push to limit institutional ownership of single-family homes, $200B in MBS purchases by Fannie and Freddie, and the DOJ probe into the Federal Reserve, along with Chair Powell's response. Plus, a huge thank you to everyone who voted for Market Moves with Mark and Jeff in the Buzzy Awards. You helped bring home the win!

Low interest rates have locked in and kept sellers on the sidelines, while high prices and borrowing costs have shut many buyers out. Will the tide finally turn? Rates are easing, prices are softening, and incomes are rising. This raises the big question: will these shifts drive a real rebound in mortgage volume in 2026? Mark and Jeff break down what's changing, what's not, and whether optimism is justified. They also discuss health screenings, invite listener feedback for 2026, and say thank you to Appraisal Buzz for the Content Creator nomination, as well as everyone who voted for Market Moves.

New year, new focus for Mark and Jeff. With inflation coming in cooler than expected — right on the heels of a Fed rate cut — the big question remains: is there real hope for 2026? We break down NAR's projections for increased home sales and lower interest rates, and dig into how much improvement the market might actually see. Also, don't forget to cast your vote in the Buzzy Awards — especially for us, if you can still stand listening to us! Vote for Market Moves: https://appraisalbuzz.wufoo.com/forms/2026-buzzy-award-finalists/

In this episode, Mark and Jeff dive into the 6–7 trend and how it relates. They also share their appreciation to Appraisal Buzz for nominating Market Moves as a 2025 Best Content Creator (voting link below if you feel inclined to support us!). Before you hit play, make sure you catch Gavin Baker's recent interview on AI; it sets the stage for everything happening now. Jeff and Mark also break down the Fed's rate cut and why mortgage rates barely flinched in response. Another big week, another big conversation. Voting link: https://appraisalbuzz.com/announcing-the-2026-buzzy-awards-finalists/ Gavin Baker podcast: https://www.youtube.com/watch?v=cmUo4841KQw&t=8s

Market Moves welcomes back Shawn Telford as the podcast's first-ever repeat guest. His recent article, "The Strategic Advantage of Certainty in Mortgage Lending," struck a chord with Mark and Jeff, sparking a deeper conversation about what's really slowing the industry down. Shawn notes that nearly half of all appraisals require revisions after their initial submission. While the average loan takes about 42 days to process, appraisals are often ordered late in the cycle, compressing turn times into just 5–6 days and sometimes putting closings at risk. Cotality's surveys show that borrowers and lenders alike prioritize comfort, confidence, and certainty throughout the process — possibly even more than speed. Check out Shawn Telford's article: https://appraisalbuzz.com/the-strategic-advantage-of-certainty-in-mortgage-lending/

Mark and Jeff are joined by a special guest this week: Remington Jones, CEO of SFREP - the company behind the software used to create and deliver the very first UAD 3.6 report. Remington brings a front-row perspective on what the next generation of lending appraisals really looks like and how the rollout is unfolding in real time. Having lived through the original UAD launch back in 2011, he shares how today's transition compares to the one 14 years ago and why this shift feels entirely different. Remington also breaks down how various software providers are approaching the new appraisal format and what appraisers can expect as the industry moves forward. A can't-miss episode for anyone keeping an eye on the future of valuation! 

Mortgage volumes dropped another 5.2% week over week, even as the U.S. economy added 119,000 jobs in September. So why did the unemployment rate still rise from 4.3% to 4.4%? Mark and Jeff break down the conflicting signals in the labor market and what it means for housing. With the next jobs report delayed until mid-December due to the government restarting, uncertainty is only growing. The first UAD 3.6 appraisal report has officially been delivered and Bryan Reynolds offers a detailed walkthrough for appraisers and lenders (https://www.youtube.com/watch?v=AQWYdesv8Ps). Mark and Jeff also discuss reports that 18% of D.R. Horton's FHA loans are currently underwater, and what this may signal for builder incentives, pricing, and buyer risk. Finally, they revisit the growing age gap in the housing market: why the median homebuyer is now 40 and what that says about affordability, supply, and the future of homeownership.

Jeff shares a heartfelt moment as he says goodbye to his oldest son for two years before diving into one of the biggest housing debates yet — a proposed 50-year mortgage. With Trump and the mortgage giants Fannie Mae and Freddie Mac floating the idea, Mark and Jeff ask: does anyone really want it, and what could it mean for homeownership and affordability? They also explore new possibilities for portable and assumable mortgages that could unlock more housing transactions. Finally, the hosts weigh in on Trump's tariff strategy and Supreme Court signals. Is it 4D chess or 2D checkers?

The median homebuyer age has jumped from 29 in 1981 to 40 in 2025. What does that reveal about affordability and generational wealth? Mark and Jeff unpack the data and discuss why home sales have dropped to historic lows, with only 28 of every 1,000 homes selling this year. They also explore why the famed investor who predicted the 2008 housing crash is skeptical of today's AI boom. Plus, the Supreme Court may be reshaping the legal foundation of U.S. tariffs. What could that mean for housing and construction costs?

Fed Chair Jerome Powell delivers the expected rate cut but what else did he signal for the economy and real estate market? Mark and Jeff break down the implications, from mortgage application trends to broader financial momentum. Then, the hosts dive into Dr. Richard Werner's thought-provoking interview with Tucker Carlson, exploring his "Credit Creation Theory" and the idea that banks may literally create new money through lending. Could this be fueling unsustainable real estate prices — and even a potential bubble? Mark and Jeff connect global economic patterns to what's happening in the U.S. today.

Interest rates are falling but why isn't mortgage volume rising with them? Mark and Jeff unpack what's keeping buyers on the sidelines this time around. They also discuss the sharp decline in FHA loans for non-permanent residents, the surprising $198 billion U.S. budget surplus in September 2025 (despite a government shutdown), and Zillow's new partnership with ChatGPT as it leans into the AI wave. Tune in for smart analysis, industry insights, and a grounded look at what's really driving today's housing and economic trends.

Are 24-hour appraisals really possible? Reggora seems to think so. We'll dig into what it would actually take to make that a reality. Plus, the Trump administration is turning up the pressure on homebuilders to ramp up housing supply, and we're breaking down what that could mean for the real estate market. Finally, in tech news, we explore "AI world models," the next big evolution in artificial intelligence and why experts say it could redefine how AI understands and interacts with reality.

In this episode, Jeff shares key takeaways from the Appraisal Summit, including trends shaping the valuation industry. Mark and Jeff dive into Opendoor's bold new "7-day home test drive" and what it could mean for buyers and sellers. They also discuss how spiking power demand may drive electricity costs higher and impact real estate ownership. Finally, it's prediction check-in time — were their calls on interest rates, Fannie Mae's stock, and Jerome Powell's job status on the money? Tune in for insights and forward-looking takes on the housing and economic landscape.

Mark and Jeff dive into the latest real estate and tech headlines, from Anywhere Advisors and Compass exploring brokerage consolidation (impacting brands like Coldwell Banker, Century 21, Sotheby's, Better Homes, and Corcoran), to Opendoor's surprising rebound and stock surge, raising the question of whether they'll be the Trevor Milton or Elon Musk of home iBuying. Plus, we'll take a look at Google's launch of its new "Learn Your Way" AI solution aimed at transforming education.

Driven by a surge in refinances, mortgage applications jumped over 29% this week. But with a soft jobs market and persistent inflation, all eyes are on the Fed's rate cut this week. Mark and Jeff break down the 1/4 point rate cut and what it means for housing. On the ground, builders and agents are noticing shifts in buyer pools, and Jeff shares how he used AI to create a real estate brokerage presentation in record time. 

Mark and Jeff sit down with Keisha Wilkinson, Senior Policy Representative for Valuation at the National Association of REALTORS® (NAR). They unpack how agents and appraisers often share more common ground than many realize, explore the power of NAR's national and local lobbying efforts, and highlight the benefits available to all REALTOR® members. Plus, Keisha shares valuable resources to help strengthen communication and collaboration between agents and appraisers. Contact Keisha: [email protected]

Trump's overhaul of the Bureau of Labor Statistics (BLS) raises big questions: how are labor numbers really collected and why do revisions matter so much? Mark and Jeff break it down. Then, the conversation turns to higher education. Are colleges leaning into artificial intelligence or pushing back against it? A recent MIT study shows that 95% of organizations are seeing no return on their AI investments yet. Is this just a temporary setback, or are we entering the AI "Trough of Disillusionment?"

Thoughts on Elon Musk's mantra of "make it exist first, then make it good later?" Is that the blueprint behind SpaceX and even UAD 3.6? Mark and Jeff dig in. The conversation turns to Warren Buffett's big bet on homebuilders. What does Berkshire Hathaway see in new construction that others might be missing? This episode also unpacks Andrej Karpathy's reframing of AI as "Intelligence Amplified," explores the rise of Third Party Ownership in solar, and asks why there are now more homebuyers over 70 than under 35. Finally, Jeff and Mark take a look at the nation's top 10 most expensive zip codes and what those price tags reveal about today's market.

Mark and Jeff break down key takeaways from the Valuation Expo and explore when appraisals may start looking different. They dive into the current state of artificial intelligence, which they describe as still a "word guesser" but undeniably powerful, and whether this is just the first generation of what's to come. The conversation shifts to new real estate brokerages making waves, the potential evolution of Fannie Mae and Freddie Mac into a "Great American Mortgage Corporation," and what rising stock prices mean for the market. Plus, they analyze restaurant sales contractions, discretionary spending slowdowns, and a hotter-than-expected PPI report that casts serious doubt on a Fed rate cut next month.

Mark and Jeff sit down with John Downs for a wide-ranging conversation that spans from the high-pressure world of college sports recruiting to the future of AI in the mortgage industry. John shares his approach to guiding young minds toward success, then dives into the hot topic of SEO and GEO. Should content today be built for humans or large language models? The crew takes bets on whether AI could replace John as a loan officer in the next six years, examines a record-setting gap between sellers and buyers in the housing market, and explores how John leverages his trusted appraiser panel as a true competitive edge.

Pete Fontana joins Mark and Jeff to dive into the growing divide between federal appraisal requirements and the added burdens imposed by individual states. With UAD 3.6 on the horizon and mobile adoption still low among appraisers, a further shakeout of the industry seems inevitable. Will these state-level overlays make it too difficult for new appraisers to enter the field? How are national groups, like the National Association of Realtors (NAR), stepping in to support harmonization? Meanwhile, Mark and Jeff are pushing through day three of a grueling fast (send snacks), and GDP came in red hot at 3%, beating expectations and stirring new questions about the economy's next move. This is a can't-miss episode for anyone keeping an eye on the future of real estate, regulation, and appraiser resilience.

In their 51st episode, Mark and Jeff dive deep into the growing impact of Artificial Intelligence across business, real estate, and everyday life. Is AI a tool, a threat, or just the next big shift we're still learning how to use? On a lighter note, are Market Moves listeners true fans or just tuning in for AI talk? Mark and Jeff are here for it either way! Let's keeps things moving as we hit a few big headlines: Inflation creeps from 2.3% in April to 2.7% in June. What's driving it? Will it last? The U.S. government records its first monthly budget surplus in years. Is it a fluke or a turning point? For decades, healthcare has been the top employer in most states—but could new trade deals and tariffs bring manufacturing back to the top? AI is the hot topic, but everything's connected, and Jeff and Mark break it all down.

In Episode 50 (wow!) of Market Moves, Mark and Jeff welcome special guest Charles Baker to the show. Charles shares how he found his path into the world of real estate valuation, how life lessons from Tony Robbins have shaped his professional mindset, and how natural disasters — like the devastating California fires — can ripple through local real estate markets. It's a story of personal growth, professional insight, and market impact you won't want to miss.

Jeff and Mark have a thought-provoking conversation with AI expert Roy Meyer. From real estate to business strategy — and even in our personal lives — artificial intelligence is reshaping the way we live and work. Unlocking its full potential requires more than just curiosity; it demands a whole new way of interacting. Roy dives into why engaging with AI is a fundamental shift from traditional tools like Google, and how mastering new approaches can lead to smarter decisions and greater efficiency in every area of life.

Prediction time! What's in store for the second half of 2025? Mark and Jeff predict Fed rate cuts, mortgage rates, S&P price, Fannie Mae stock price, if Jerome Powell will still be Fed Chair, and national median home prices for 12/31/2025. This episode also covers trade deals and U.S. unemployment data updates, as well as the size of the U.S. economy (only 13 states make up the biggest economy in the world).

Jeff and Mark discuss how the United States and China tariff deal is among macro trends leading to stability and easing of interest rates. Inversion point: number of sellers spiking while number of sellers is dropping. 2022 reported 6.4 million in home sales vs. 4 million home sales in 2025. It turns out, median home sale prices are more seasonal than you might think. This episode also focuses on Home Builder margin compassion for Lennar and KB Homes, an update on the Appraisal Institute lawsuit brought on by former CEO Dr. Cindy Chance, and the role of experience when it comes to being an appraiser - should all experience requirements be removed? Additionally, UAD 3.6 makes its first appearance on the pod, but just barely.

Mark and Jeff commit to teaming up for a fast. Can they do it? With inflation coming down and employment strong, why isn't the FED lowering their interest rate? What's up with thirty-two states seeing month-over-month home value decreases from April to May? Let's check out this X post: Is an appraisal really just "an expensive book report by a pencil pusher who called brokers for their data?" Lastly, how is artificial intelligence like the movies 50 First Dates and Memento?  https://youtu.be/LCEmiRjPEtQ?si=RM6zUGxBAcOTHmCV

In episode 45, Mark and Jeff discuss Chase Bank CEO Jamie Diamond's perspective on the difficulty of the mortgage business - citing rules, regulations, and regulators in the space. Apple says that Large Language Models (LLMs) aren't going to lead to Artificial General Intelligence (AGI). What do you think? Additionally, Jerome Powell's Fed chair term is up next year and Secretary of Treasury Scott Bessent is being discussed as a possible successor. Finally, Jeff and Mark cover The Conference Board's Consumer Confidence Index, which shows an increase in sentiment, putting an end to 4 months of consecutive declines leading up to May.

Housing - what a topic! Jeff and Mark discuss the change in trend between buyers and sellers in the national market. Homeowners with record levels of home equity are tapping into it at an increasing rate. There really isn't any appraiser licensing in Canada? Mark attended the Appraisal Institute of Canada conference and shares his perspective on the differences between Canada and U.S. real estate. Additionally, will the Chicago suburb condemn Pope Leo's childhood home?

In episode 43, Jeff and Mark examine Trump on the existing Fannie Mae and Freddie Mac conservatorship. Can going public be done without driving up interest rates? Trump's team lays out how. In recent news, Fannie and Freddie stock prices increase. Let's discuss Elon's pull back from DOGE. Rental rates? They're coming down across the country but still much higher than pre-pandemic. We can't forget Artificial Intelligence. Will the superabundant future mean more - not less - demand for valuation professionals?

Did the Appraisal Foundation make a mistake in appointing Jeff to their Board of Trustees?! Joking aside, a big congrats to Jeff. In Episode 42, he and Mark touch on the Appraisal Institute president's message to residential appraisers, which hits close to home for them. They also discuss the Federal Government proposing an additional 2T+ deficit while U.S. bonds are downgraded by Moody's. Not much news on interest rates - no relief yet. But have you heard Brad Gertsner's proposal for private investment accounts for all those born in the U.S.? How would it work and is it a good idea? Lastly, the Pope's home was for sale and was pulled off the market. https://www.appraisalinstitute.org/insights-and-resources/insights/newsroom/presidents-message/2025-05-14-presidents-message https://wrenews.com/pope-leo-xivs-chicago-area-childhood-home-taken-off-the-market[…]Up5Y7r2%2FuFrU7wiI1u7SPRO6T7%3AFm8vO40EwOjmOQAXUNvH99J4sgTzVWtz⁠ https://www.yahoo.com/news/home-appraiser-forced-pay-75k-120700609.html https://wrenews.com/report-little-change-in-real-estate-agent-commissions-since-na[…]gsh4EriW%2B3HJCI4SeXACK0vU%3ACjezT5yZe%2BWxrkiNiZccwzwXmU4R7ZP3 https://wrenews.com/california-approves-17-rate-hike-by-state-farm/?utm_source=Act[…]i%2FIFs0rDUFhtAgjoNZ5b6R76%3AWWX8PYgzN%2BHx5e4XHzI9fMvmSIDBTOV3

Jeff and Mark discuss the Appraisal Institute, which is in the news with multiple allegations. Distrust in institutions, in general, is historically high. A negative PAREA review: Is PAREA for everyone? This episode also covers the progress on tariffs, and how the housing inventory continues to increase in the sunbelt and shrink in northern states. Lastly, a shocking new piece of data - only 53% of current renters anticipate buying a home in the next 5-10 years.

From bad to worse? The headlines in real estate aren't pretty, but it's better to face reality than try to hide from it. Sales volume and mortgage applications are at historical lows. Is there any hope in sight? 75% of potential buyers say now is not a good time to buy and 72% cite high home prices as the reason. Mark's curveball topic: Lenders working with an appraisal firm vs. individual appraisers.

Is the economy softening? Mark and Jeff talk all things economy, including decreasing prices for events and lodging facilities. Will things get worse before they gets better? We've seen another real estate volume false start and Jerome Powell says the Fed will prioritize fighting inflation over unemployment, if necessary. DR Horton and KB Homes join in sharing data highlighting weakness in the new housing market. Additionally, Artificial Intelligence (AI) is emerging applications. One AI Guru suggests Artificial General Intelligence (AGI) will add 10-25 trillion dollars to the global gross domestic product (GDP), which is like adding the economies of Japan, Germany, South Korea, and India again to global GDP. Lastly, Mark and Jeff touch on how Homes.com is positioning opposite of Zillow and Red Fin.

Two recently-certified PAREA graduates have a conversation with Mark and Jeff about their PAREA experience. What was it like going through the program? Do they feel ready for real-world appraising? What is the value of a PAREA education for students and potential employers?