Real Estate’s Tipping Point — Housing, Mortgage Rates & Fed Policy

Over the past few decades, the real estate and housing market has experienced significant shifts driven by economic cycles, interest rate fluctuations, demographic trends, and policy changes. The 1980s saw high inflation and interest rates. The 1990s brought a recession and recovery, while the early 2000s experienced a housing boom that collapsed during the 2008 financial crisis, followed by a slow recovery with growing affordability concerns. More recently, the 2020s have been shaped by the COVID-19 pandemic, remote work trends, and sharp interest rate hikes compounding affordability issues.

In this episode, we dive into the changing tides of the U.S. housing market — from interest rates to inventory, demographic shifts and supply chain constraints. We tackle ongoing affordability challenges, the Fed’s long-term strategy and also revisit the renting vs. buying debate.

Whether you are a homebuyer, homeowner, renter, or just tracking the market, this is your real estate pulse check.

Erica Adelberg

Erica Adelberg

Erica Adelberg, CFA, is the Chief Mortgage-Backed Securities Strategist at Bloomberg Intelligence, a division of Bloomberg LP, and is based in New York City.

Erica started her career in MBS research and strategy on the sell-side at Kidder Peabody and Goldman Sachs. She subsequently spent nearly 20 years on the buy-side as a portfolio manager Goldman Sachs Asset Management, New York Life Investment Management, and KBC Bank. Prior joining Bloomberg in 2021, Erica returned to the sell-side to head the MBS agency trading book at Seaport Global, focusing primarily on MBS derivatives.

Erica received her bachelor’s degree in mathematics from University of Chicago and is a CFA charterholder.

Drew Reading

Drew Reading

Senior U.S. Homebuilding Analyst, Bloomberg Intelligence

Drew Reading is a Senior U.S. Homebuilding Analyst at Bloomberg Intelligence, where he provides in-depth research and analysis on the U.S. homebuilding industry. With more than a decade of experience covering the sector, his work spans publicly traded homebuilders, building product manufacturers, and home improvement retailers, offering actionable insights for institutional investors and industry stakeholders.

He is a frequent guest on Bloomberg Radio and Bloomberg Television, where he discusses housing market trends, construction activity, and the broader dynamics shaping residential real estate. He earned a Bachelor’s degree in Finance from Drexel University.

Lynn Gargano

Lynn Gargano

Editor of the Financial Executives Journal and a strategic advisor to The Financial Executives Networking Group (FENG), where she contributes to thought leadership, business strategy, and the continued expansion of the organization’s digital and content platforms.

Lynn is an accomplished, business-savvy, senior financial executive and thought leader with an entrepreneurial mindset, focused on driving value creation. She has a strong financial acumen and deep understanding of financial levers with extensive experience in Financial Services, Asset and Wealth Management subsectors. Lynn is a collaborative leader, who bridges finance and strategic growth, turning insight into a growth engine, that drives P&L performance, unlocks revenue opportunities, guides strategic decision-making, and cultivates strategic partnerships.

Her background includes Big 4 public accounting, shaping her perspective on financial reporting, planning, and finance transformation.

Andrew Silverman

Andrew Silverman

Lead Transactional & Tax Policy Strategist at Bloomberg Intelligence

Senior tax policy and transactional analyst at Bloomberg Intelligence, a platform within Bloomberg Professional Services on the Bloomberg Terminal.

I have a broad tax, policy and transactional focus. I write about international and US federal and state tax change, the OECD BEPS initiative, tax controversy, transfer pricing and tax issues related to M&A and capital markets. I also cover M&A, IPOs and other corporate transitions.

I appear on Bloomberg Radio and TV to discuss tax issues, corporate actions and policy prognostication.

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