How can cities adapt to rising climate risks and shifting infrastructure needs?

Christopher Boone (Dean, USC Price School of Public Policy) joins Richard K. Green (Director, USC Lusk Center for Real Estate) to discuss how sustainability and resilience are reshaping housing, cities, and policy. From rebuilding after California wildfires to lessons from London’s limited social housing, the wide-ranging conversation highlights the tradeoffs between affordability, risk, and durability facing communities across the US.

Highlights include:

• Why mentors are crucial to career development.
• The gap between data and difficult decisions to achieve sustainability goals.
  
• Fostering resilient communities by addressing jobs and health.
  
• Baltimore’s unique reversal on neighborhoods exposed to toxic releases.
  
• How communities relocate and rebuild after natural disasters and the implications for the recent Los Angeles
• Eminent domain and the importance of community engagement.
  
• Lessons in sustainability from abroad for US policy.

More: http://lusk.usc.edu/perspectives

Selma Hepp (Cotality) joins Richard K. Green (USC Lusk Center for Real Estate) to unpack the third year of low home sales as affordability and insurance reshape demand across the US.

From Florida’s downturn to California’s inventory bump, the conversation explores local shifts and their contributions to national trends. Hepp also shares how new climate risk tools could change pricing and property insurance in the future.

Highlights include:

- Why home sales today look worse than in the aftermath of the Great Recession
- What makes Austin’s home value decline so unique
- Why the Midwest and New England lead the nation in home price growth
- How climate risk and insurance are impacting migration
- The growing role of small investors, especially in housing markets with constrained supply

More: http://lusk.usc.edu/perspectives

What’s driving today’s housing market shifts? How can economic principles help us navigate life and career choices?

Daryl Fairweather (Redfin) joins Richard K. Green (USC Lusk Center for Real Estate) and offers a glimpse at US housing markets before diving into insights from her new book *Hate the Game*. The conversation starts with Florida’s drop in home price appreciation, California’s middle-of-the-pack performance, and the Midwest’s rise before turning to Fairweather’s career journey from academia to tech.

Highlights include:

- Key factors in the Midwest and Rust Belt’s turnaround
- How insurance costs and HOA fees are changing the condo market in Florida and beyond.
- What economic exams for PhDs tell us about the kind of talent they seek.
- How economic tools like backward induction can help leverage promotions.
- Why winning a home buying bid could be worse than losing.

More: http://lusk.usc.edu/perspectives

With fewer transactions to measure, what’s happening in real estate capital markets, and what’s next?

Kev Zoryan (Arselle Investments) joins Richard K. Green (USC Lusk Center for Real Estate) to explore the state of capital markets and how today’s environment is reshaping investment strategy. Zoryan shares his path from private equity to launching his own firm addressing the succession gap he sees in real estate organizations.

Highlights include:

- Why matching capital to strategy is more critical than ever
- How return metrics have evolved and what to prioritize
- Where the US stands as a priority for global capital amid uncertainty
- What refinancing challenges may still loom for commercial real estate

More: http://lusk.usc.edu/perspectives

Jerrold D. Green (Research Professor, USC Annenberg and President & CEO, Pacific Council on International Policy) joins Richard K. Green (Director, USC Lusk Center for Real Estate) to discuss a short list of global hotspots from a United States perspective.

Green delivers insights and offers detailed context on Israel-Gaza, China, Mexico, Ukraine-Russia, and the unique position the US holds within the global economy and international relations.

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How will the US economy perform in 2024?

Claudia Sahm (Founder, Sahm Consulting) joins Richard K. Green (Director, USC Lusk Center for Real Estate) to discuss the US economy’s recovery from COVID along with additional shocks and infer the implications of the Federal Reserve’s playbook for 2024.

Sahm’s key points:

- The US economy undeniably turned a corner in 2023

- The US recovery remains stronger than its peer countries

- The Federal Reserve will continue their conservative approach to rate cuts

- The greatest risk to the market in the near future is the Federal Reserve’s sluggish response

Sahm also fields questions on the risk that commercial real estate and regional bank distress poses to the economy, the Federal Reserve’s limits on impacting housing affordability, and more.

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Clayton Dube (Director, USC U.S.-China Institute) joins Richard K. Green (Director, USC Lusk Center for Real Estate) to discuss the condition of U.S.-China relations and the latest developments in China’s global influence on trade, supply chain issues, technology, and more. Dube highlights a challenge Chinese officials are watching closely in the coming years: stalling economic growth. To approach the “middle-income” problem, Dube notes the ways in which the government has both relaxed and tightened its grip on markets in an effort to continue the economy’s upward momentum.

Included in the discussion:

Security concerns between the U.S. and China

The important distinction between China’s total Gross Domestic Product (GDP) and GDP per capita

How China’s tech rivalry with the U.S. is evolving

Why Chinese firms have overpaid in key U.S. real estate transactions

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Joyce Chang (Managing Director & Chair of Global Research, JPMorgan Chase & Co.) delivers an overview of global economic trends to watch heading into 2023 and beyond.

In the near term, Chang sees a mild recession taking effect in late 2023, with a true “soft landing”, as identified by the Federal Reserve, being unlikely. She notes that overall cycles may be shorter, with a likelihood of 4-year recessions rather than the historic 8 or 10, and markets that rally faster to regain losses.

Included in the long-term outlook are remarks on China’s slowing growth, regions that could benefit from supply chain shifts away from China and nearshoring, and the political divides in the US around ESG (Environmental, Social, Governance) projects and investing.

Richard K. Green (Director, USC Lusk Center for Real Estate) also fields questions on the US housing crisis, how rapidly rising interest rates could affect regional banks and nontraditional finance, the implications of a global aging population, and more.

Timestamps:

00:00 Introduction

01:48 Presentation

41:08 Q+A

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