The Walker Webcast

Join Jim Millstein, Co-Chairman of Guggenheim Securities and expert in financial restructuring, Jim Parrott, Owner of Parrott Ryan Advisors with deep ties to housing finance, and Mark Zandi, Chief Economist at Moody's Analytics, as they explore the pressing question of whether Fannie Mae and Freddie Mac should be privatized. The trio debates the potential economic impacts, analyzes the intricacies of the mortgage market, and discusses the critical role these agencies play in stabilizing housing finance. Their insightful conversation sheds light on the delicate balance between government support and market dynamics.

Scott Rechler, CEO and Chairman of RXR Realty, is a pivotal figure in New York's real estate scene. In this conversation, he shares his optimistic outlook on the U.S. economy and discusses the impact of rising interest rates on the commercial real estate market. Rechler highlights innovative strategies his firm employs in multifamily housing development, the challenges of the NYC office sector, and trends in workplace evolution. He also delves into creative solutions for transforming outdated malls into vibrant community spaces.

David Barry, President and CEO of Pursuit, shares his remarkable journey from ski instructor to a leader in hospitality and adventure tourism. He discusses how his background influences his leadership style and the culture at Pursuit, emphasizing humility and the importance of building connections. Barry highlights the transformation of ski resorts post-crisis and the essential values of safety and guest experience at Pursuit. He also offers insightful advice for young professionals and reflects on the unique experiences that drive a love for the outdoors.

David Hunt, the President and CEO of PGIM, shares insights from his more than a decade of leadership at a major global asset management firm. He discusses the exciting convergence of public and private markets and the implications for risk assessment and volatility. David dives into how technology and AI are reshaping investment strategies. He also reflects on the shifting dynamics of commercial real estate and emphasizes the importance of delivering superior investment returns while fostering strong client relationships.

Bill Ferguson, Co-Chairman and CEO of Ferguson Partners, is a leader in executive search for the real assets industry. He discusses key indicators of successful hires, emphasizing cultural fit and interview techniques that reveal strengths. Bill shares insights on the importance of executive leadership in enhancing company value and offers advice for young professionals in commercial real estate. He also examines how shifting generational priorities impact workforce dynamics and the need for diversity and adaptability in hiring practices.

Ivy Zelman, EVP and Co-Founder of Zelman & Associates, shares her sharp insights on the housing market. She discusses the impact of tariffs on construction costs and the challenges homebuilders face, particularly in California's tightening market. Ivy highlights the 'lock-in effect' limiting inventory and dives into the complexities of affordability that buyers encounter. The conversation also touches on the potential privatization of Fannie and Freddie and the ripple effects of recent disasters on housing dynamics.

Dr. Peter Linneman, a leading economist and Professor Emeritus at The Wharton School, shares his expertise on economic forecasts and the commercial real estate market. He discusses the implications of political shifts, interest rates, and the fallout from recent California wildfires on insurance costs. Linneman analyzes how global conflicts, like the war in Ukraine, impact the U.S. economy and explores the relationship between tariffs, inflation, and real estate dynamics, while providing insight on investment strategies for various sectors.

Mohamed El-Erian, President of Queens' College at Cambridge University and a chief economic advisor at Allianz, dives into pressing economic issues as we approach 2025. He tackles Fed predictions, inflation, and the labor market while highlighting the transformative impact of AI on finance. El-Erian examines the geopolitical tensions driving oil prices and the implications of a K-shaped recovery on income disparity. He emphasizes the necessity of challenging complacency in investments and the evolving landscape of global finance amidst these turbulent changes.

Willy Walker dives deep into pressing real estate issues, including the privatization of Fannie and Freddie and the rise of build-to-rent models. He shares insights on back-to-office plans and surprising market shifts expected in 2025. The discussion also traverses personal anecdotes about food, travel ambitions, and nostalgic music that shaped resilience. Geopolitical dynamics and economy intertwine as the conversation examines housing policies and market predictions. Plus, there's some light-hearted banter on AI's role in job security and creativity.

Ben Schall, CEO of AvalonBay Communities, shares insights from his extensive career in real estate. He discusses AvalonBay's strategic move toward suburban markets and the impact of AI on customer interactions. Ben reflects on the importance of company culture and the organization's commitment to integrity. Additionally, he forecasts trends in the multifamily market for 2025, the rising gap between renting and homeownership, and the burgeoning Build-to-Rent sector, all while navigating today's economic challenges.