Why are some families successful at building and sustaining their wealth, generation after generation? Welcome to Secrets of Enterprising Families, a podcast from The Northern Trust Institute devoted to unlocking the specific strategies that multi-generational families use to transfer their values, wealth and legacy from one generation to the next. In each episode, hosts Nikè Anani and Eric Czepyha will interview a nationally recognized expert on a different wealth planning topic, from marri ...
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The Northern Trust Institute Podcasts
Issues, interviews, and insights into the U.S. housing market. Monthly takes on what’s happening in the housing market today, and what might be happening tomorrow. From the John Burns Research and Consulting (JBREC) team. The podcast is hosted by Dean Wehrli, Principal at JBREC. Dean manages residential and commercial real estate consulting assignments across the country and has deep knowledge of California’s Bay Area, Sacramento, and Central Valley markets as well as Northern Nevada. John B ...
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The New Land Financing Playbook: Flexible Capital Meets Cautious Builders
48:55
48:55
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48:55If there are two things that fuel real estate development, they are land and money. Oh, and design. Three things that—wait, the type of housing is huge, too, so product is another fundamental. So there are four—okay, there are a whole bunch of critical elements to the successful development of real estate, but let’s stick with land and money. Havin…
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In the final episode of Secrets of Enterprising Families, we dive into the powerful intersection of philanthropy and legacy. Whether your family is just beginning to think about giving or already has an established foundation, this episode offers rich insight into how values, strategy, and intergenerational collaboration can shape meaningful impact…
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The Rental Rebound: Supply, Demand, and Demographic Shifts Driving Recovery
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55:07
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55:07There is no housing market; there are housing markets. We all know that, but all too often forget. Now, as mortgage rates and increasing supply challenge the for-sale sector, rental supply has tapered from its peak, and that sector is firming. Moreover, dynamics vary, often markedly, depending on geography. The nation is dotted with dozens of renta…
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In this episode, we explore the emotional complexities and logistical challenges of managing an estate after the loss of a loved one. Guests Jon Jackson from Northern Trust’s Estate Settlement Group and Heather Nickerson, CEO of Artifcts, share personal stories and professional insights on planning ahead, avoiding common pitfalls and communicating …
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If you’re going to be the “Something of Something,” it is not bad to be the Trader Joe’s of homebuilding. You are big but not too big. You’re known for high quality and attentive service, but instead of ringing a bell for someone who just bought a bottle of that delicious almond sparkling wine, you have a key ceremony for someone who just bought a …
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Resiliency Under Pressure: Can Housing Weather Choppy Economic Seas?
37:17
37:17
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37:17Tariffs, inflation, interest rates, jobs. All are factors that massively impact the housing market. As head of economic research and forecasting at Renaissance Macro Research, Neil Dutta tracks currents and trends across the globe. On Bloomberg TV or in Business Insider, Neil always tells it like it is. He recently joined the New Home Insights podc…
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Leading with Purpose: Executive Wealth and Retirement Planning
31:08
31:08
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31:08In this episode, we explore the unique financial considerations executives face throughout their careers — especially as they prepare for retirement. From negotiating compensation packages to managing concentrated stock positions and navigating major transitions, the path can be complex. Guests Christian Klaas, CPA, and Matt Hochstetler, estate pla…
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From Wall Street to Main Street: How Avenue One Connects Local Pros with Institutional Capital
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55:50
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55:50Every great story has an “inciting incident,” something that propels the protagonist into action. For Ryan Stroker, Founder and CEO of Avenue One, that moment came when he realized there was a gaping disconnect between institutional capital and a vast array of comparatively smaller homebuilders that could thrive with better access to big money. But…
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Divorce, Remarriage, and Redefining Your Financial Future
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30:43In this episode, we explore the emotional and financial complexities of divorce and remarriage with guest Steph Wagner, National Director of Women & Wealth at Northern Trust. Drawing from both her personal journey and years of experience advising clients, Steph offers powerful insights on how to prepare for divorce, navigate transitions with clarit…
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Porches, Parks, and Placemaking: How DMB Turns Dirt Into Destinations
1:18:52
1:18:52
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1:18:52Placemaking is the art hiding within the banalities of residential development. It is the color on canvas that transforms square footage and dwelling units per acre into homes, and homes into communities.DMB Development has been making great places since 1984, and the company’s President and CEO, Brent Herrington, has been helping them do that for …
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Managing Wealth for Success: Planning with Purpose
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38:03
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38:03In this episode, explore what it means to manage wealth effectively across generations. Whether you’re creating a new estate plan or rethinking an existing structure, wealth management is about more than tax strategy—it’s about aligning your financial assets with your personal values, goals and relationships. Our guests bring a unique blend of prof…
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Why This Spring Selling Season Isn’t Feeling Quite Like Spring Yet
1:05:49
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1:05:49Spring is a critical time of year for the housing market. The weather warms, foot traffic surges, and builders can bank sales. It is historically the height of the market, particularly in cooler climes. At JBREC, we constantly interact with new homebuilders, resale brokers, land brokers, building products folks, and other actors in the housing spac…
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Passing the Baton (and Letting Go of It): Leadership Strategies for the Rising Generation
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31:08In this episode, we explore the critical role that the rising generation plays in a family business. Succession is not just about the strength of the current management team—it also depends on how well the next generation is prepared, engaged, and developed as future leaders, from building credibility and experience to navigating difficult family d…
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From Gas Stations to Gross Margins: Ryan Marshall Runs PulteGroup Like a Well-Oiled Team
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50:40PulteGroup CEO Ryan Marshall brings clarity, candor, and—since it is in the name of the show—insight into the latest episode of the New Home Insights podcast. You can tell he is not eager to talk about himself, but Ryan has a great story to tell. He shares his humble upbringing and early life lessons before dishing the inside scoop on running one o…
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Sean Dobson on Rethinking Homeownership, SFR, and Housing Investment
1:10:48
1:10:48
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1:10:48The best ideas are the ones that seem obvious—“Why didn’t I think of that?” Sean Dobson saw the pile-up coming before the Great Financial Crisis (GFC) crashed the housing market. Sean and his company, Amherst, built a model to assess the true value of every home in America and bet right on what followed the GFC.Sean then had another great idea. Fam…
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Navigating Ownership & Succession: Planning for Your Family Business
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26:12
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26:12In this episode, hosts Eric Czepyha and Nike Anani dive into the challenges and opportunities of business succession and wealth planning. They explore the complexities of ownership transitions, long-term financial planning, and the importance of engaging the next generation to ensure a business’s success across generations. Our guest, Gina Staudach…
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Building Trust: How Taylor Morrison Became America’s Most Trusted Homebuilder
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56:49
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56:49Most of us, even the CEO of a major homebuilder, don’t have a master plan for our lives. Sometimes, fate takes us to a place we never thought we would be. Sheryl Palmer’s journey started as a young advertising expert at McDonald’s, wound through homebuilder Del Webb, and eventually put her at Morrison Homes when it merged with Taylor Woodrow. Thirt…
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Preparing Your Family for the Wealth They Will Inherit
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28:45In this episode, we delve into the essential steps families can take to prepare the next generation to inherit and manage wealth responsibly. From initiating conversations about money to fostering financial literacy and aligning values, we explore strategies to equip future generations with the tools and mindset needed to steward family resources e…
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Connecting Builders and Buyers: How Zillow is Redefining New Home Sales
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36:28Zillow is the unquestioned king of the existing home space, but it is not just about matching buyers with a resale. Zillow is big in the new home world as well. The company is partnering with homebuilders to empower them to reach potential buyers better, joining the melee for a buyer segment that often doesn’t realize they have other options.Qadra …
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When Children Arrive: Preparing for the Unexpected
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30:59In this episode, we explore the financial and legal steps essential for starting or expanding a family. From naming guardians to establishing education funds and creating a solid estate plan, we discuss the key strategies for protecting your family’s future. Our conversation is guided by Stacy Singer, the National Practice Leader for Trust and Weal…
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The 2024 Housing Market Unpacked: Challenges, Strategies, and Optimism for 2025
1:03:53
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1:03:53In April, the New Home Insights podcast looked at how the spring selling season was shaping up with some of our resident market experts, and you loved it. It was one of our most listened-to episodes. So, in this episode, we are joined by the JBREC survey team—Jody Kahn, Cara Lavender, and Dillan Krieg—to review 2024 and look forward to how the hous…
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Entering a Marriage: Critical Conversations on Prenuptial Agreements
27:04
27:04
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27:04What are the primary benefits, and limitations, of a prenuptial agreement when entering a marriage? What are the most common misconceptions surrounding the agreements, and how can they be used to help foster peace of mind and form a cohesive union? In this episode, we explore the critical financial conversations that build trust and transparency in…
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The Five Secrets of Enterprising Families with Jen Risher
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23:27In this episode, we discuss the five secrets that enterprising families have used to build and sustain wealth across generations. These foundational principles, based on our 130 years of experience advising families, are the backbone of the Secrets of Enterprising Families book recently published by The Northern Trust Institute. Our guest today is …
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Housing at the Heart of Politics: A Deep Dive into Policies Shaping the Rental Market
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57:32With an election days away, politics is top of mind for almost everyone. So, now seemed like a good time for the podcast to delve into the politics and policies that impact housing.David Howard is the CEO of the National Rental Home Council (NRHC), which advocates mainly for the single-family rental (SFR) sector. David walks us through the ins and …
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Episode 100: John Burns Reflects on Housing Cycles, Market Trends, and the Future of Real Estate
57:58
57:58
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57:58To celebrate the 100th episode of the New Home Insights podcast, John Burns, founder and CEO of John Burns Research and Consulting, joins us. But it is not just John and me sipping a delicious IPA and commiserating. There is that, but this episode takes a 30,000-foot view of the long cycles of the housing market before delving into some current hot…
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How do families build and sustain wealth across generations? In Secrets of Enterprising Families, hosts Nikè Anani and Eric Czepyha offer an insider's view of the strategies that successful multi-generational families have used during pivotal life events, such as marriage, the arrival of children, or the sale of the family business. Each episode wi…
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Episode 99: Data-Driven Investment Strategies: Don Mullen on SFR, Tech, and Housing’s Future
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29:45
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29:45Diverse, tech-savvy, innovative—all fair when describing Pretium, one of the biggest real estate investment firms you may have heard of. Pretium has helped change how we invest in real estate. Pretium is impacting single-family rental (SFR), build-to-rent (BTR), fix and flip, mortgage originations, and even homebuilding through a menu of investment…
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Episode 98: Inside the Deal: M&A Insights with Rich Moriarty of Vestra Advisors
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43:36Big builders seem to be getting bigger every year. Growth might have some drawbacks, but for the most part, it makes a builder strong. Think operational efficiency, expanding your pipeline, access to capital, depth of skills, and expertise. You can grow organically, but you can grow faster through a smart merger or acquisition.That’s where Rich Mor…
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Episode 97: Market Trends in Kitchen and Bath: A Deep Dive with NKBA’s Bill Darcy
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51:02
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51:02What will your kitchen and bathroom look like a year from now, two years from now, five years from now? That’s what Bill Darcy, Global President and CEO of the National Kitchen and Bath Association (NKBA), thinks about every day. This perspective provides Bill with a look under the hood of this sector, and he shares what he sees on this episode of …
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Episode 96: Leading Through Innovation: How Fortune Brands is Shaping the Future of Home
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52:58One of the hardest things for a successful company is to stop doing what made it successful and start doing something that will stretch its success into the future. It is a risk and a cost, but it can be an investment if done right.So when Fortune Brands Innovations shed an iconic cabinetry brand, CEO Nick Fink had some anxious moments. But that de…
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Episode 95: Building Success: Doug Bauer and the Growth of Tri Pointe Homes
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41:54To grow or not to grow is often the question for a homebuilder. For Doug Bauer, CEO and co-founder of Tri Pointe Homes, the answer has always been “grow.” In 2009, when Doug Bauer and his partners started Tri Pointe, growth was a huge risk. But they pulled it off, and now Tri Pointe Homes is one of the top public homebuilders in the nation with a f…
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Episode 94: Hillwood Communities and the Art and Science of Placemaking
1:04:58
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1:04:58If you have anything to do with the housing market in Texas, you have heard of Hillwood Communities. If you are from elsewhere in the country and have not heard of Hillwood, here’s your chance. All across the great state of Texas, Hillwood is building some of the best-designed and most successful master-planned communities in the US. They have achi…
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Episode 93: Shifting Foundations: A Deep Dive into Demographics and Housing
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43:58
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43:58Demographics impact housing in a few massive foundational ways and a thousand small ways. Price, product, place—demographics help define them.On this episode of the New Home Insights Podcast, our guests are Chris Porter and Eric Finnigan, two leaders at John Burns Research and Consulting who live and breathe demographics and what they mean for hous…
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Episode 92: Building Up: Walton Global's Strategic Land Insights
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51:06This episode of the New Home Insights Podcast delves into the intricacies of land banking, a crucial component of the real estate industry, with insights from Kate Kaminski, the COO of Walton Global. Kate shares her journey from the home building industry to her pivotal role at Walton, a company that has significantly influenced land banking in Nor…
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Episode 91: It’s the Spring Selling Season, So Why Are You Reading this Instead of Selling a Home?
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47:21Every year, the housing sector eagerly awaits the spring selling season. With the holidays in the rearview and the weather warming, it’s time to buy. If you are a purist about seasonal starting dates, it is not technically spring yet, but don’t be that way.Jody Kahn and Dillan Krieg are surveying homebuilders monthly for John Burns Research and Con…
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Episode 90: Empire Communities' Marketing Insights: The Art of Selling Lifestyle
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52:29
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52:29“Lifestyle” is one of the hottest concepts in new home sales and marketing. At its core, it means designing homes that not only have a specific buyer in mind but a buyer who knows exactly what they want and where they want it. It relates to both community and home. Lifestyle is about offering the right rooms and features in a home and the right ame…
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Episode 89: Harnessing Brand Power: Taylor Morrison's Marketing Dexterity
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49:09
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49:09The concept of “brand” can be a bit vague. At its core, it is a service or product that some part of the public can identify as uniquely yours. It is what you do, what you provide. It sets you apart, and people want it. Think Apple and iPhones; think Lululemon and translucent leggings. Or think Google and mapping software that lets you know there’s…
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Episode 88: Swimming with Giants: Olson Homes' Strategic Approach in a Sea of Big Builders
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53:43Scott Laurie and Olson Homes know that you have to be smart when you are one of the smaller fish swimming in the sea of big fish. You have to be nimble. You have to play the long game. You have to be omnivorous. You have to seek opportunity where others may not see it.Olson Homes is a Southern California builder with a laser focus on what they buil…
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Episode 87: What's Next for Building Products and Home Remodeling?
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43:56The pandemic taught many lessons. In housing, one was that disruptions in the things we build homes with can, unsurprisingly, bring the industry to its knees. As 2023 draws to a close, we ask: Are we finally past all of that—the rising prices, broken supply chains, and interminable waits for everything from a garage door to window latches that forc…
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Episode 86: Value Adding—How Resale Will Survive a Changing Market
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48:43The real estate broker is the conduit between most people and the biggest purchase of their life—a home. Mark McLaughlin led Pacific Union International, one of the best upmarket brokerages in California, and now is the Chief Real Estate Strategist for Compass, one of the best and biggest brokerages in the nation. He is not just a broker. As the ti…
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Episode 85: The Economy Deconstructed, One TikTok Video at a Time
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47:35Do not call Kyla Scanlon a social media influencer. She is a social media educator.Through a swelling number of followers on YouTube, Instagram, and TikTok, Kyla has built a reputation as someone who can accessibly explain complex economic and financial concepts to a primarily Gen Z audience hungry to better understand the complex world around them…
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Episode 84: Evolving Age-Qualified Spaces: A Glimpse into Modern 55+ Communities
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57:40Call us obsessed with the 55+ housing space, but we do follow the demographics. The 55+ space enjoys a population bulge that has at least another decade run to it. This has enticed many folks to dip a toe in the water, but fewer have taken the full-body plunge. Though it is fueled by the demographics, the 55+ space is filled with savvy buyers and e…
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Episode 83: How Meritage Homes Drew Up a New Blueprint for Success
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58:57
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58:57When Meritage Homes CEO Phillippe Lord took over the helm of one of the biggest home builders in America, he was almost immediately faced with an existential crisis. The COVID-19 pandemic was unlike anything in living memory. After ensuring everyone in the Meritage family was safe and stayed that way, Phillippe realized they would have to change to…
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Episode 82: How Long Will Home Builder Euphoria Last?
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59:04With those low mortgage rate golden handcuffs keeping a huge chunk of the existing home market in cryogenic stasis, the new home sector has thrived. There is even a case to be made for continued good times even if resale listings begin to rise and mortgage rates remain elevated.There are certainly hurdles ahead, but our Director of Research and Man…
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Episode 81: Flipping the Script: A Deep Dive into Tech-Driven Real Estate Investment
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53:40Stephanie Casper, the Chief Revenue Officer of Kiavi, joins our podcast to discuss how Kiavi is leveraging proprietary technology, in-house data models, machine learning models, and AI to make the process of borrowing money for the purposes of investing in residential real estate easier for their customers. Join us as Dean and Stephanie unpack the …
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Episode 80: Getting to 'Yes' on Housing through 'YIMBYism.'
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53:32Planning officials fear them. Housing developers and builders loathe them. Ever present and hard to appease, they are the NIMBY—the “not in my backyard” anti-housing advocate. The stereotype of an angry, finger-wagging busybody always saying "no" to new housing may be an unfair stereotype, but their impact is real. Increasingly, though, there is an…
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Episode 79: Earth, Wind, and Fire: NileBuilt Homes Defy the Elements
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41:18Could your home survive a spin on the surface of the sun? No? A NileBuilt home could (probably). That’s over 2,000 degrees Fahrenheit. That’s ghost pepper hot. That’s middle of a microwaved Hot Pocket hot. NileBuilt is a materials company taking a step into the production home world. The critical difference is NileBuilt uses a concrete material wit…
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Episode 78: A Master Class in Bathroom and Kitchen Design
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43:36When homeowners are surveyed about which rooms are most critical to get right, the kitchen and the primary bath typically top the list. But that doesn’t make it easy. There is an ongoing battle between functionality and aesthetics, and the struggle to stay on top of trends is constant.Brian Juedes, National Vice President of Product Design at Taylo…
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Episode 77: Can ADUs Help 'Fix' Housing Affordability?
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37:22Sean Roberts, CEO of Villa, joins our podcast to discuss what he's seeing in the ADU market and how his company is providing solutions for the current housing market shortage and affordability issue.By John Burns Research and Consulting
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Episode 76: Opendoor and the Future of iBuying
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43:54iBuying exploded onto the housing scene a few years ago with the potential to change how we buy and sell our homes. After Zillow and Redfin exited the sector, Opendoor now controls the lion’s share of the iBuyer market.As higher mortgage rates and the threat of economic slowdown have slowed housing in general, where do Opendoor and iBuying go from …
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