Beyond the Buildings

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: Construction Cost Update ReportTexas Hail(ed) 2023 a Record-Breaking Year for Insured LossesHazard HQ Command CentralRead CoreLogic Intelligence Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2025 Cotality

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 BenefitLinks: Texas Hail(ed) 2023 a Record-Breaking Year for Insured LossesIBHS Research Report: Rating the States 2024Hazard HQ Command CentralRead CoreLogic Intelligence Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2025 Cotality

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: Hazard HQ Command CentralRead CoreLogic Intelligence 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 2025 Cotality

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:1:54 – What is the state of affordability in the U.S. economy?3:26 – How are mortgages affected by overall real estate market trends?5:15 – Why is it important to track mortgage delinquencies?7:49 – How does rising consumer debt affect property owners’ ability to pay mortgages?  Is it a leading indicator that there may be more late payments soon?11:15 – What is the status of foreclosures in the market?12:42 – How are mortgage servicers using equity to protect property owners from late payment and foreclosure?15:46 – Erika Stanley goes over the numbers in the housing market in The Sip.17:08 – How have home equity gains differed across the U.S.?19:52 – Are there certain states where the potential for mortgage delinquencies is higher?20:35 – Erika Stanley reviews natural catastrophes and extreme weather events across the world22:00 – What does the future look like for mortgage delinquencies are foreclosures?Links: Hazard HQ Command CentralRead CoreLogic Intelligence 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 2025 Cotality

Whether you're valuing, insuring, underwriting or even simply buying and selling real estate, understanding the nuances of property valuation is crucial.But why do homes have so many different values and what role does each value play in the grand scheme of things? From market value to insurable value to the cost approach, who you are and what type of value you’re looking for plays a pivotal role in how you consider property values.But then there is the world of unconventional homes like barndominiums and tiny houses.In this episode, host Maiclaire Bolton Smith and Ed Martinez, director of industry solutions at CoreLogic, discuss how a home's location, size and effective age make the cost approach an excellent benchmark when valuing these unique properties.In This Episode: 2:12 – An explanation of why there are different values on the same property.3:26 – What is the cost approach and why can’t all property valuations be uniform?5:38 – How does the value of land factor into overall valuations?6:58 – How do you influence the effective age of a structure? Is it really kitchen and bathroom remodels?8:42 – Erika Stanley goes over the numbers in the housing market in The Sip.10:05 – Why are barndominiums so popular right now?12:27 – For non-traditional homes, why is the cost approach the most accurate method?15:22 – How much of a cost savings do barndominiums offer, really?18:12 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.19:22 – What are the most important factors when assessing the value of a home?Links: Hazard HQ Command CentralRead CoreLogic Intelligence Up Next: Which U.S. Metros Sit in the Crosshairs of Remote Work Migration?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2025 Cotality

On March 6, 2024, the Securities and Exchange Commission (SEC) sent shockwaves through the financial world by mandating that publicly traded companies disclose details about how climate change affects their businesses. However, this rule hit a roadblock on April 4 when legal challenges led the SEC to pause the implementation timeline, throwing compliance requirements into uncertainty.While the future of this rule is in limbo, the implications of such a mandate for businesses, investors, and the economy are immense. Should the SEC reinstate the rule following litigation, it will be a fundamental shift in how corporations assess and report climate-related risks, potentially reshaping investment strategies and business models.To navigate this labyrinthine, we're joined by Russell McIntyre, a seasoned policy analyst at CoreLogic. Russell sheds light on the intricacies of the SEC ruling, dissecting its reporting requirements and the implications of the uncertain implementation timeline.This discussion also covers the reasons why, despite this pause in implementation, businesses should prepare for these reporting requirements and what data and analysis future compliance will require.In This Episode: 1:56 – What happened with this SEC ruling? What does the stay mean for implementation timelines?4:07 – What is the mood on Capitol Hill following the pause on this landmark rule?5:43 – What happened to make the SEC put these rulings into effect now?8:45 – What are the reporting requirements in this rule?11:06 – Even though there’s a pause, why should companies still prepare for this type of reporting?13:46 – Erika Stanley does the numbers in the housing market in The Sip.15:03 – Russell and Maiclaire discuss what parts of the rule they wish weren’t removed.16:49 – Why insurance recovery data may soon be public investor information.19:49 – How can companies gather the necessary data to comply with these rules in the future?20:28 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.21:37 – Is this just the first step in a larger effort to disclose climate risk?Links: Study Shows Economic Impacts of Greenhouse Gas Emissions | DartmouthSEC Final Climate Disclosure RuleHazard HQ Command CentralRead CoreLogic Intelligence Up Next: Can Property Data Accurately Predict Shifts in the Property Market?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2025 Cotality

In today's ever-changing property market, decisions can be swayed by fluctuating interest rates, population shifts, affordability concerns, and climate challenges. However, one constant remains to provide a clear path forward: data-driven insights.From guiding high-level business decisions to shaping regulatory policies, data has become the cornerstone for professionals navigating the property market. But with the proliferation of data comes the challenge of harnessing its potential. Where does one begin when seeking actionable insights in a sea of information?It all begins with technologies that can translate the vast quantities of data collected within the property industry into insights that inspire action. Whether it’s the transformative power of geospatial data, the role of predictive analytics in risk mitigation, or the implications of emerging technologies like generative AI, these technology solutions will leave their marks on the future of the property business.In this episode of Core Conversations, host Maiclaire Bolton Smith sits down with CoreLogic’s Chief Innovation Officer John Rogers to dive into the untapped potential of data and its profound impact on the future of real estate. In This Episode:2:40 – What is Climate Risk Analytics and how does it help mitigate the financial impact of climate change that the SEC now requires?5:24 – Can banks, companies, and homeowners see the effects of a changing climate on a single property?8:12 – What kind of data is needed to power forecasting efforts and define development plans?10:40 – How does geospatial data help define wildfire risk? What else can it help enterprises determine?13:33 – Erika Stanley does the numbers in the housing market in The Sip.14:51 – Have there been any surprising migration patterns that geospatial data has identified?17:31 – Who is John and why does he always have a giant screen?20:28 –  Erika Stanley reviews natural catastrophes and extreme weather events across the world.21:51 – How can we ensure that there are good data inputs powering gen AI to avoid the consequences of the adage “garbage in, garbage out”?Links: Hazard HQ Command CentralRead CoreLogic Intelligence 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 2025 Cotality

In the telecommunications industry, navigating infrastructure investments to draft a road map for 5G success is a complex but necessary undertaking. Success requires both location intelligence and geospatial data.As the needs for 5G infrastructure increase in parallel with the demand for connectivity for everything from core networks to self-driving cars and wearable devices, it’s imperative to not only understand how much connectivity to provide today but also where it will be needed tomorrow.From respecting regulatory compliance to pinpointing growth hot spots, host Maiclaire Bolton Smith and guest Joe Francica, a principal on the location intelligence product team, discuss how infrastructure planners in the telco industry can get ahead in the race for connectivity supremacy.In This Episode2:11 – What is the difference between location intelligence and geospatial data, and how dramatically can the data points influence infrastructure project placement?4:55 – How can the infrastructure required for the expansion of 5G networks rely on location intelligence?8:55 – Are there any particular regions seeing especially high demand for bandwidth?11:02 – Erika Stanley does the numbers in the housing market in The Sip.12:59 – What is the first step to define a target area for 5G infrastructure expansion?14:36 – Compliance and regulation considerations are woven into the telecommunications industry, how can location intelligent data help ensure compliance?17:18 – Why is rural 5G infrastructure a big deal?18: 02 – Erika Stanley reviews natural catastrophes and extreme weather events across the world.Links: Hazard HQ Command CentralRead CoreLogic Intelligence Up Next: Which U.S. Metros Sit in the Crosshairs of Remote Work Migration?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2025 Cotality

Soaring U.S. rental prices have prompted discussions about the nation's trajectory towards a renter-centric society.From the exorbitant rental prices in Miami to the ongoing wisdom that homeownership is an advantageous financial decision, as renters and homeowners search for affordability and stability, they will need to navigate an increasingly complex market.With rental costs experiencing a staggering 30% increase over a three-year period, this episode of Core Conversations examines various factors contributing to this phenomenon, including a severe shortage of rental properties, heightened demand from new households, and the impact of high mortgage rates on homeownership rates.As Americans search for solutions to growing rental prices, build-to-rent communities have stepped into this dynamic. These developments offer solutions to the rental supply crisis but also raise questions about the long-term impact of these communities on local economies and housing market dynamics.In this episode, host Maiclaire Bolton Smith and CoreLogic Principal Economist Molly Boesel discuss the complex interplay between economic factors, housing policies, and societal trends shaping the rental landscape in the United States.In This Episode2:29 – Why are rents so expensive? Is the lack of affordability transforming the U.S. into a land of renters?7:38 – How does the recent 30% increase in rental prices compare to the long-term average? How do rent-controlled apartments skew the growth?9:10 – Looking at regional rent affordability and what happened in Miami.10:15 – How is the rental economy distributed between single-family and multifamily units? Is the build-to-rent economy further tipping the balance?           16:46 – Who is investing in these build-to-rent communities? Is it venture capitalism? Banks? Individual investors? And how are these communities impacting local economies?17:39 – Erika Stanley goes over the numbers in the housing market.18:39 – How are high rental prices correlated with the slowdown in homeownership rates?19:48 – Why are first-time homebuyers still making up a large share of buyers despite high interest rates?         21:42 – Erika Stanley reviews global natural catastrophes and their effect on the insurance market.23:00 – Are there advantages to being a renter versus a homeowner even in the current rental market?Links: Hazard HQ Command CentralRead CoreLogic Intelligence Up Next: Why US Property Retains Its Value Compared to Other Global MarketsFind full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2025 Cotality

It already seems like 2023 is long ago, but the consequences of natural disasters and the lessons we’ve learned from them are far from the past.Record-breaking hailstorms; devastating wildfires in Lahaina, Hawaii; and other catastrophic events made global headlines, and for good reason. Historical patterns are changing – just look at the increasing rapid intensification of storms and sea-surface temperatures. However, changing climate patterns do not mean that there is no way to ensure resilience.Research, property data, stringent building codes, and a commitment to preparedness are all lessons that insurers and homeowners can glean from 2023 to get ready to mitigate property risk for the 2024 season.In this episode, host Maiclaire Bolton Smith and CoreLogic Director of Catastrophe Response Jon Schneyer look into what happened in the world of natural catastrophes in 2023. They also examine what we can learn from these events to give listeners a deeper understanding of the complex interplay between weather phenomena, human settlement patterns, and disaster response strategies.In This Episode1:34 – What is the biggest natural catastrophe story from 2023, and why was it record-setting?4:04 – Looking into how population growth centers are increasing hail damage costs.6:20 – What dominated international headlines for natural catastrophes – it wasn’t hurricanes.8:52 – Erika Stanley goes over the numbers in the housing market in the Sip.10:12 – How did El Niño and sea surface temperatures interact to influence hurricane season 2023?13:35 – Wildfires in California were tempered, but will this continue in 2024?16:17 – Why were the wildfires in Maui so devastating?18:45 – What can we learn from these devastating natural catastrophes? (Hint: Building codes are important.)21:42 – Erika Stanley discusses current natural catastrophe events.Links:Hazard HQ Command CentralRead CoreLogic IntelligenceUp Next: Are Insurers Prepared for an El Niño-Fueled Hurricane Season?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3HFslXD4 Copyright 2025 Cotality