Macro to Micro: Credit Considerations for Housing, Products, and Materials in 2026
Housing markets are entering 2026 amid persistent affordability pressures, uneven construction activity, and evolving credit dynamics. As these forces reshape both demand and financing conditions, stakeholders face a rapidly shifting landscape with implications for growth, risk, and policy exposure.
This webinar broke down the key drivers behind these trends and highlighted the signals that matter most for the year ahead. Watch the replay to gain a clear, data driven framework to navigate the opportunities and emerging risks across the housing and construction sectors.
Topics the team addressed:
- Single-family housing market, including new construction and existing homes
- Building products
- Building materials and construction
Speakers
Kathrin Heitmann
Associate Managing Director - Homebuilding, Corporate Finance Group
Moody’s Ratings
Madhavi Bokil
Senior Vice President, Credit Strategy and Guidance
Moody's Ratings
Griselda Bisono
Vice President - Senior Credit Officer, Corporate Finance Group
Moody's Ratings
Peter Doyle
Vice President – Senior Analyst, Corporate Finance Group
Moody's Ratings
Andrew MacDonald
Vice President - Senior Analyst, Corporate Finance Group
Moody’s Ratings
Joe Tringali
Vice President – Senior Analyst, Corporate Finance Group
Moody's Ratings
Jackson Yang
Vice President - Senior Analyst, Corporate Finance Group
Moody's Ratings
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Kathrin Heitmann is an Associate Managing Director in the Corporate Finance Group (CFG) and heads the US Homebuilding Team.
Immediately prior to her current role, Kathrin was a VP-Senior Creditor Officer in the Project and Infrastructure Finance Group, with responsibility for a portfolio of US infrastructure projects across the power, energy, and transportation sectors and the lead of Moody’s Project Finance Bank Loan default research.
Kathrin joined Moody’s in 2007 and has held various roles during her tenure, such as lead analyst for regional and local governments in Canada as well as for European heavy industrial corporations out of the Corporate Finance team in Germany.
Kathrin is a certified Financial Risk Manager and a CFA charterholder. Kathrin is a Country Champion for Moody’s Network of CFA Charterholders (MNCC), a Mentor for Young Women in Finance, and Co-Treasurer of Dance/NYC, a NY non-profit.
She studied business administration at UAM University in Madrid, Spain, and holds a Master’s degree in business administration from Johann Wolfgang Goethe University in Frankfurt, Germany.
Madhavi Bokil is a Senior Vice President, heading the Macro Research Team of the Credit Strategy and Standards Group. She is a member of Moody’s Macro Board and the lead author of Moody’s Global Macroeconomic Outlook.
Before joining Moody’s Ratings Madhavi held positions as Senior Economist at AIG and GE Capital, undertaking global macroeconomic analysis, forecasting and CCAR stress testing. Prior to that she held a faculty position in the Department of Economics at Clark University, where she pursued research in and taught International Macroeconomics and Monetary Economics. She holds a BA in Economics from Fergusson College, Pune, India, a MA in Economics from the University of Mumbai, India and a PhD in International Economics from the University of California at Santa Cruz.
Griselda Bisono is a Vice President –Senior Credit Officer in Moody’s Corporate Finance Group (CFG). She joined Moody’s Homebuilding team in 2018 and has lead analyst responsibility for a portfolio of homebuilding and building products companies. In addition to regularly authoring industry research,Griselda leads outreach and engagement efforts for the Homebuilding team and frequently participates in high-profile events including investor roundtables, webinars, third-party conferences and media engagements.
Griselda represents the CFG Homebuilding team in Moody’s US Cross-Sector Housing and Housing Finance Group, which focuses on the development of topical cross-sector research and investor outreach.She also contributes her expertise to Moody’s Homebuilding MIND group, which aims to foster thought leadership and develop cross-regional research.
Previously, Griselda was a member of the REIT team for 13 years where she covered a portfolio of REITs and other commercial property firms in a variety of real estate subsectors within the US, Canada and Latin America. She also previously held a variety of roles in Moody’s Finance group.
Griselda holds a B.A. in Accounting from St. Joseph’s University and an M.B.A. from Baruch College, ZicklinSchool of Business. She is also fluent in English and Spanish.
Peter T. Doyle is a Vice President – Senior Analyst who follows a portfolio of building materials companies. Before joining Moody’s in June 2004, Peter was a Relationship Manager for Lloyds TSB Bank Plc. He served nine years of active military service in the Army as a Captain in the Infantry.
Peter holds a BS from United States Military Academy, an MBA from Villanova University. He is also a CPA and a NJ Certified Municipal Financial Officer.
Andrew MacDonald is a VP - Senior Analyst in Moody’s Corporate Finance Group. Andrew joined Moody’s Services Team in 2020 and is responsible for a portfolio of companies in the Business and Consumer Services industries. During his time at Moody’s prior to this role, Andrew supported the credit analysis of speculative grade companies in the Manufacturing, Construction, Business and Consumer Services, and Distribution industries on the High Yield Team. Before joining Moody’s in November 2009, Andrew was a Financial Analyst at The Blackstone Group. Andrew received a BBA in Finance from James Madison University.
Joe Tringali is a Vice President – Senior Analyst in Moody’s Corporate Finance Group, covering a portfolio of building product manufacturers, distributors, and related service providers. He has previously covered a range of sectors within Moody’s, including retail, apparel, construction, metals, mining, and packaging.
Prior to joining Moody’s, Joe was a senior associate in PwC’s audit practice, where he was responsible for auditing
the financial reporting, parent-level transactions, and corporate functions of a Fortune 100 insurance company.
Joe is a Certified Public Accountant (CPA) and holds a Bachelor of Science in Accounting and a Master of Science in Forensic Accounting from the University at Albany.