Explore every episode of the podcast The Rent Roll with Jay Parsons

Rental housing economist Jay Parsons shares his top 5 takeaways from the single-family REITs' earnings calls last week — AMH and Invitation Homes. Are the SFR players still focused on building BTR? Are they buying off the MLS again? What impact are they seeing from the reduced number of first-time homebuyers? And is new lease rent growth — which has been soft — showing signs of rebounding? Additionally, Jay welcomes in Amherst Chairman and CEO Sean Dobson for an extended conversation on the state of the SFR industry. As one of the early players in the institutional SFR market, Sean shares his perspective on how and why narratives devolved into myths and conspiracy theories. What can and should operators do to push back against false narratives? Additionally, Jay and Sean talk about the current leasing environment, the role of build-to-rent supply is slowing rent growth, and the long-term need for quality single-family rentals to help address the housing crisis. Furthermore, Jay brings back recurring segments like "In the News" and "Rental Housing Trivia."

Why is apartment rent growth slowing down again? That's the big plot twist in the latest data on the U.S. apartment market. Rental housing economist Jay Parsons dives into that question and much more in this Q3 2025 Apartment Market Update and Outlook. Later in the program, Jay welcomes in CBRE's Americas head of multifamily research, Matt Vance. Jay and Matt chat about what is driving the current slowdown in rent growth, while also highlighting the continued strong demand, improved affordability trends and low turnover. And what markets could recover first, particularly among the high-supplied Sun Belt and Mountain markets? Jay and Matt also talk about the state of the multifamily capital markets, and when we'll see all that much-discussed dry powder drive sales volumes back up. Additionally, Jay reviews the latest headlines in rental housing — including some major news on the single-family rental market — and offers up another edition of "Rental Housing Trivia."

It's the valuation edition, featuring Cushman & Wakefield's head of valuation and advisory for the living sector, Zach Bowyer. Jay and Zach discuss where asset values are today (for apartments and SFR) compared to the peak, and how much interest rates play a role in the decline relative to the rent and NOI slowdown. Jay asks Zach to opine on how he thinks about values, what most of us laypeople get wrong about valuation, and his thoughts on where values go from here. Additionally, in the "Here's a Chart" segment, Jay breaks down why the latest Census data on multifamily starts appears highly suspect, as well as the big story on CPI inflation not getting enough attention right now. Jay also reviews the latest headlines impacting multifamily and SFR, including news about the potential launch of a new apartment REIT.

Rental housing economist Jay Parsons is joined by commercial real estate journalist Hiten Samtani for a hearty discussion on how the media covers apartments and single-family rentals. Jay and Hiten talk about the "lost art of beat reporting," with relatively short tenures on the housing beat, and how that impacts rental housing coverage. Hiten also challenges rental housing owners to call out the bad apples from their bunch, and the two then commiserate on something the media and housing industries share in common: public images tainted by the small share of bad actors. Hiten also shares some advice: How can apartment and SFR owners and managers proactively work to combat misleading headlines, or should they just ignore it? Additionally, Jay brings back recurring segments like Here's a Chart, Rental Housing Trivia and In the News.

American Homes 4 Rent CEO Bryan Smith joins rental housing economist Jay Parsons on the podcast to reflect back on the early years of institutional single-family rentals, and how AMH became one of the leading players in the still-small institutional SFR market. How much have the initial strategies held up since AMH's 2013 IPO? You might be surprised to find it's quite a lot -- from target demographics to asset types to centralized operating strategies. Bryan also shares what drove AMH to move away from buying individual homes, and shift heavily into building new BTR homes. Jay and Bryan also talk about expansion markets, as well as how a healthier homebuyer market could benefit the rental housing business. Additionally, Jay reviews headlines impacting rental housing — including California legislation weakening NIMBYs' abilities to block new housing, as well as implications of the New York City mayoral race on apartments.

Waterton co-founder, CEO and Chairman David Schwartz joins The Rent Roll podcast to talk contrarian apartment investing strategies with rental housing economist Jay Parsons. David shares his story getting into the multifamily industry in the 1980s amidst a period of economic turmoil combined with unfavorable views of apartments. He played key roles at then-emerging names like AMLI and Equity Residential before co-founding Waterton, where he's built a business around investing in out-of-favor markets. David and Jay talk about how a market can be favorable one day and then unfavorable the next, and also discuss the difference between a smart contrarian strategy versus a wild bet. Additionally, Jay breaks down the latest headlines in multifamily and SFR, while also opening up the history books for this week's Rental Housing Trivia.

Is the U.S. apartment market slowing down? Rental housing economist Jay Parsons dives into the data to evaluate whether apartment owners and managers should be concerned. Why is rent growth moderating again and concessions ticking back up if demand remains strong, occupancy is holding steady, supply is declining and renter rent-to-income ratios are improving? And in the second half of this episode, Jay welcomes in David Todd, the CEO of Maymont Homes, the single-family rental platform owned by Brookfield Asset Management. David opens up the hood on Maymont's proprietary model to identify markets for investment. Also, Jay and David talk about why SFR operators would benefit from a stronger for-sale housing market. Additionally, Jay brings back recurring segments like "In the News" and "Rental Housing Trivia."

The man's alter ego is the famed CRE Analyst account with more than 90,000 followers — James Ray, the co-founder of CRE Analyst and a managing director at MetLife. James joins rental housing economist Jay Parsons to make his case for why "cap rates are B.S.," why the wall of maturities is overblown, explains why the "buy versus build" debate isn't as simply as often portrayed, and shares how institutional investors are thinking about multifamily, single-family rentals and build-to-rent homes right now.  Additionally, James shares the remarkable story of what drives his passion for training up the next generation through CRE Analyst and through teaching in higher education — sharing how his childhood bouncing around between trailer parks shaped him for roles on Wall Street managing commercial real estate portfolios and on Zoom calls training up the next generation of CRE leaders. Additionally, Jay breaks down the latest data on apartment rents — and offers up a theory on why rent growth has slowed back down despite continued strong demand, stable occupancy and improving affordability. Jay also brings back recurring segments like "Rental Housing Trivia" and "In the News."

To fee or not to fee? Rental housing economist Jay Parsons tackles the hot-button topic of fees for apartment and SFR renters. With short-term rentals and event ticketing sites now rolling fees into all-in pricing, will apartments and single-family rentals be next? Jay talks with BH Management CEO Joanna Zabriskie, who oversees a portfolio of more than 100,000 units, about BH's pilot of all-in pricing. Joanna reveals what happened with leasing traffic and occupancy when fees were rolled into the base rent. The results may be surprising ... and could encourage other operators to follow suit. At the same time: It's important to recognize all-in pricing doesn't make housing more affordable. Also in this podcast: Jay shares highlights from the apartment REITs' presentations for the big NAREIT summer conference – focusing on interesting updates specific to renter demographics and renter financial health.

Rental housing economist Jay Parsons shares the latest on the real estate fundraising landscape. It's a tough environment right now for multiple reasons. How can GPs make the case for multifamily and SFR? Jay shares some data and talking points that aim to be (semi) helpful, but the reality is it's a challenging market. Alicia Miller, head of U.S. capital markets for Black Salmon, joins the show to share what she's hearing on LP investor sentiment, and also what is resonating with that audience. Additionally, as always, Jay brings back recurring segments like "Rental Housing Trivia" and "In the News," where he gives his take on buzzy headlines around Austin's sluggish tech sector and on the future of Fannie Mae and Freddie Mac.

It's all about SFR and BTR in this episode, where rental housing economist Jay Parsons shares his Top 5 takeaways from the single-family REITs' recent earnings calls AND talks build-to-rent opportunities with the one of the nation's most prominent BTR players. Jay shares how the SFR market is seeing some overlapping themes with the apartment sector — including solid performances in Q1, low resident turnover and healthy rental financials. Jay also highlights the SFR REITs' continued pivot away from acquiring individual homes off the MLS and into new construction of rental homes. And in the interview portion of the podcast, Jay welcomes in Branden Lombardi, president of BB Living. Jay and Branden discuss the evolving landscape for BTR development opportunities, including a shift from the exurbs into more suburban infill opportunities. Additionally, Jay brings back recurring features like "In the News" and "Rental Housing Trivia."

Rental housing economist Jay Parsons breaks down earnings call season for the apartment REITs, offering up five big takeaways from what turned out to be a moderately upbeat quarter. Jay shares why REITs continue to see strong fundamentals ... and yet aren't raising guidance. Jay also shares key insights from REIT commentaries on hot topics like renter financial health, low turnover, impact of federal layoffs in D.C., and potential impacts from tariffs. In the second half of the program, Jay welcomes in Alfonso Costa Jr., a former senior official at HUD and now the COO at Falcone Group, a Florida-based developer with a national footprint. Alfonso shares his unique perspective on housing as someone who has served in senior roles in both the public sector and private sector — and offers up thoughts on what could help move the needle again on housing creation. Alfonso also talks about what still works, in terms of new development, in the current high-rate environment. Additionally, Jay brings back recurring segments like "In the News" and "Rental Housing Trivia."

Airbnb's Global Head of Real Estate, Jesse Stein, joins The Rent Roll podcast to talk conspiracy theories about the impact of short-term rentals on the long-term rental market, real solutions, as well as to share Airbnb's strategy of partnering with apartment owners to empower apartment residents to make their units available for short-term stays. Additionally, host Jay Parsons toasts the retiring Oracle of Omaha — the great Warren Buffett — and shares words of wisdom he wrote about the rent-versus-buy debate back in 2010. Jay also discusses recent headlines on Gen Z renter preferences (and how amenity-rich student housing may be shaping those tastes), the supply shortage spiking rents in Milwaukee, and a plan to repurpose some federal lands for housing development.

Multifamily housing construction is slowing — and fast. While current deliveries are putting significant downward pressure on rents, the story could very soon shift from "oversupply" back to "undersupply." Rental housing economist Jay Parsons shares the latest data on apartment starts and completions, and asks: Could YIMBYs be part of the answer in bringing back at least pickup in apartment construction? Certainly, YIMBY-ism is having its moment — maturing from a grassroots effort in California to a national movement that now includes a best-selling book ("Abundance" by Ezra Klein and Derek Thompson) to members of the U.S. Congress forming a bipartisan YIMBY Caucus. One of the leaders at the center of this movement is Mike Kingsella, who shares how and why he joined the YIMBY cause, and where he sees it going. Mike has helped bring together a unique and diverse group of leaders across housing advocacy, policy, and industry to unite behind the singular cause of getting more housing built all across the country. Additionally, Jay brings in YIMBY-centric editions of recurring segments like "In the News" and "Rental Housing Trivia."

Rental housing economist Jay Parsons tackles today's biggest newsmaker: tariffs. What impact are tariffs having on apartment and BTR construction and operations? How much will new starts be impacted? What components are most impacted by tariffs? Jay cuts through the noise and hot air to share five observations and insights on the potential impacts of tariffs on multifamily and build-to-rent housing. Jay also breaks down recent headlines speculating about the impact on rents, and explains why the current narrative is likely wrong. Additionally, Jay welcomes in two executives — Scott Villani and Dan Hull -- from one of the nation's largest apartment builders, NRP Group. Scott and Dan open up NRP's playbook to share where they're seeing impacts from tariffs, and why the total impact on construction costs is likely less than many people think. Scott and Dan also share what they're seeing in the current lease-up environment, and what markets are showing signs of rebounding earliest and supporting the next wave of new construction starts.

Rental housing economist Jay Parsons breaks down the latest and freshest data on the U.S. apartment market — including supply (on the decline), demand (on the rise) and rents (ticking back upward). What's driving the improvement and how is the outlook changing given recent noise around the economy? Cortland's EVP and Head of Research, Lee Everett, joins the podcast to share his perspective on the market — and why apartments may be well positioned for the road ahead relative to alternatives. Jay and Lee also share expectations for rent growth in 2025 and 2026 as supply drops off. When will rent growth return to positive territory in the high-supplied Sun Belt and Mountain markets? Additionally, as always, Jays breaks down the latest headlines impacting rental housing with "In the News" and tees up another round of "Rental Housing Trivia."

Rental Housing Economist Jay Parsons breaks down 25 years of the NMHC Top 50 apartment owners lists to reveal some surprising facts and history. For example: Did you know the NMHC Top 50 own only 11% of U.S. apartments? Or that the top owners of the late 1990s and 2000s were much bigger — in terms of unit counts — than today's largest owners? Or that the floor for the Top 25 Developers is lower than at any point in 10+ years — another sign that developers are starting fewer apartments. Jay also breaks down the brief histories of the 14 different NMHC #1 owners since 1990, and reveals where each one is today. Later in this week's episode, Jay welcomes in Antonio Marquez, the founder of Comunidad Partners (a leading provider of workforce housing) who holds leadership roles with the National Multifamily Housing Council and the Multifamily Impact Council. Antonio shares his story growing up as a first-generation Mexican-American, and how his upbringing inspired his mission to build a sustainable workforce housing model delivering positive impacts for renters and investors alike. Additionally, Jay brings back recurring segments of the podcast, including "In the News" and "Rental Housing Trivia."

Rental housing economist Jay Parsons breaks down the case for the Southeast's apartment and single-family rental markets. While some pontificators have openly fretted over slowing population growth, Jay shares data and forecasts showing the Southeast (as well as Southwest) — while moderating — remain much better positioned for growth (particularly among young adults more likely to rent) than other parts of the country. While the 50-year high in supply has created a big headwind across the Southeast of late, the drop in starts could flip the script in the near future. Jay looks back at the Southeast's pre-COVID performance as a potential indicator for what the next cycle could look like. Adding to the topic, James Kane — ex-Starwood Managing Director and current Southeast Partner for Madera Residential — joins the podcast to share his experience managing tens of thousands of units across the region, and shares his views on what Southeast markets look attractive going forward. Additionally, Jay brings back recurring segments like "New Digs," "Rental Housing Trivia" and "In the News."

Rental housing economist Jay Parsons dives deep into a topic that is far more nuanced than it's typically given credit for: low turnover among renters. Nearly everyone wants to give all the credit to the lack of move-outs to buy single-family homes. And certainly that's a factor, but is it the only factor? The data suggests it's just one of several factors at play. Jay examines other factors that help explain why turnover has been unusually low throughout these past five years — even back when home sales were booming. Additionally, Jay brings in multifamily proptech guru Dom Beveridge for a conversation on the evolving role of technology in resident satisfaction and retention, as well as leasing and staffing efficiency. How do we separate real advancements from buzzy vaporware on hot topics like AI and centralization? Dom shares highlights from his latest 20for20 report offering intel from apartment executives on real technology trends impacting property owners and managers. And as always, Jay offers up recurring features like "In the News" and "Rental Housing Trivia."

Rental housing economist Jay Parsons breaks down a new groundbreaking study on Opportunity Zones, which have proven to be remarkably effective — and efficient — in producing housing. Jay shares key takeaways from the study and then welcomes in "The Wizard of OZ" — Opportunity Zone apartment developer Barrett Linburg. Barrett and Jay talk about why the program has been a win/win for investors and for renters, and also previews what OZ 2.0 might look like as Congress works on potentially expanding and extending the Opportunity Zone legislation. Additionally, Jay reviews the latest headlines impacting rental housing — including two states discussing new rent control programs — and offers up another edition of "Rental Housing Trivia" and "Complaints Department."

Rental housing economist Jay Parsons talks about the shifting institutional appetite for apartments and build-to-rent SFR with ACRE co-founder Michael Van Der Poel. Jay shares the latest data on capital flows-- which have increasingly shifted away from higher regulated markets on the coasts toward growth markets in the Sun Belt and Mountains, as well as the Midwest. Jay highlights the unique challenges in Los Angeles in particular, and why its attracting a far smaller share of apartment investment and development dollars today compared to past cycles. Additionally, Jay highlights the specific markets that have gobbled up a larger share of investment dollars in recent years, including big markets like Dallas/Fort Worth and also smaller markets like Charleston. Jay and Michael also discuss equity and debt strategies for institutions, market preferences, BTR, and whether now is the time to invest in new development again. Additionally, Jay brings back recurring features like "Rental Housing Trivia" and "In the News."

Rental housing economist Jay Parsons breaks down the five key takeaways from the single-family rental housing REITs' recent earnings calls. The big one: Why did SFR revenue growth slow down given few home sales plus a large discount to rent versus buy? Punchline: The mainstream narrative has been wrong — and always was wrong. Jay breaks down why that's happening. Jay also shares the latest on how and why the SFR REITs continue to recycle capital — selling older, scattered-site homes and investing in new home construction. Jay also brings back recurring segments like "In the News" and "Rental Housing Trivia." Later in the program, Jay talks shop with one of the nation's top SFR brokers, JLL's Matthew Putterman. Jay and Matthew talk about the current SFR buy box, why institutions aren't buying houses off the MLS anymore, and how regulatory risk is impacting investment strategies.

Rental housing economist Jay Parsons makes the case for tertiary markets — smaller metro areas outside the top 50 in size. Jay shares data on how (and why) smaller markets have outperformed on rent growth in recent years, and reveals which tertiary markets might continue to see strong demand for apartments and single-family rentals into the next cycle. Jay also shows data highlighting how investors have increasingly shown interest in smaller markets, which now comprise around 20% of all U.S. apartment sales — up substantially over the last 15 years. Later in the program, Jay brings into the discussion Jasin Alfaro, CEO of Metonic, to dive deeper into tertiary market strategies. Metonic is the Omaha-based owner of 10,000+ apartment units across the Midwest, Texas and California. Jasin reveals why Metonic believes in tertiary markets, what he looks for when selecting a smaller market, and how to sell investors on markets they may not know well. Additionally, Jay brings back recurring segments like "In the News," "New Digs" and "Rental Housing Trivia."

Rental housing economist Jay Parsons dives into the growing trend of institutions expanding or creating debt funds targeting multifamily. Jay is joined for the discussion by Dan Walsh, the founder and CEO of Citymark Capital, which sold most of its apartment equity investments around the market's peak, and has since shifted to buying loans from banks and debt funds. Dan shares what led him to make that shift when he did, and why he's favoring debt over equity right now. Additionally, Jay breaks down a busy week of headlines on apartments and single-family rentals — including KKR's new $850 million debt fund, JPMorgan's big bet on build-to-rent homes, a Boston mayoral candidate's novel rent control proposal and a questionable headline from The New York Times. Jay also shares more highlights from REIT earnings calls, plus a REIT-themed edition of "Rental Housing Trivia."

Rental housing economist Jay Parsons breaks down highlights and key themes from the big six apartment REITs' recent earnings call. Jay shares the REITs' case for ramping up apartment construction at a time when most builders are unable to start projects, and why Sun Belt REITs believe the "tide is starting to turn" on the supply/demand balance, among other takeaways. Jay later welcomes in the co-founder and CEO of one of the big apartment REITs, Ric Campo of Camden Property Trust. Jay and Ric discuss the impact of high supply in the Sun Belt, the timing of the recovery, and the case for a more bullish stance on new development and acquisitions in 2025. Ric also shares the colorful story behind Camden's theme songs in each quarterly earnings call -- and all the thought that goes into selecting each one. Additionally, Jay touches on recent headlines during the "In the News" segment, highlights the largest-to-date office-to-apartment conversion project, and tees up a special round of Rental Housing Trivia.

Rental housing economist Jay Parsons recaps highlights from the multifamily investment community's biggest event, the NMHC Annual Meeting, and then dives into the case for the Midwest. Why are institutional and other large multifamily/SFR investors showing an interest in the Midwest after basically ignoring the region for many years? Jay breaks down what's driving renewed interest in the Midwest, and which markets are standing out. Later on, Jay brings Ivan Barratt into the conversation. Barratt is the founder and CEO of BAM Companies, one of America's fastest-growing private companies and also one of the Midwest's fastest-growing apartment owners. Jay and Barratt talk about the unique challenges (and opportunities!) of raising and deploying capital into Midwest markets, and how new entrants into these markets are changing the game there. Additionally, Jay brings back recurring segments like "Rental Housing Trivia" and "In the News," while also introducing a new segment called "Off Topic." Jay briefly detours from rental housing real estate to bemoan the Dallas Mavericks' trade of generational star Luka Doncic, and offers up a parallel from 65 years ago that just might serve as a cautionary tale for what's ahead for Mavs fans.

Rental housing economist Jay Parsons talks all things rental housing demographics with the man who literally wrote the book on housing demographics, Chris Porter of John Burns Research & Consulting. Jay and Chris share the latest data on household formation, population by age, migration, incomes, renter preferences — and then tie back how these data points impact the trajectory of the apartment and single-family rental markets. Chris also looks back at the book he co-authored nearly a decade ago, Big Shifts Ahead, and shared what he got right (the boom of the suburbs) and what he got wrong (homeownership went up, not down) — and why. They also talk about demographics differ between apartments, SFR and BTR. Additionally, Jay breaks down the latest headlines impacting rental housing, including a new FTC inquiry into single-family rentals.

Rental housing economist Jay Parsons breaks down the latest data and trends on the build-to-rent sector -- the emerging hybrid of multifamily and SFR. Jay then welcomes in the first person to scale to BTR model in the U.S., Steve Kimmelman of Redwood Living, who today owns more than 3x more BTR units than the next largest player. Jay asks Steve what he saw before everyone else, and why he embraces the term "apartment neighborhoods" for his BTR communities. Additionally, Jay reviews that latest headlines on apartments and SFR, and offers up another edition of Rental Housing Trivia.

Rental housing economist Jay Parsons breaks down the case for re-rise of Sun Belt multifamily, sharing the latest charts and data. Today's Sun Belt market is unquestionable feeling the pain of a 50-year high in new apartment supply. Vacancy is elevated and rents are slightly negative in most Sun Belt markets. But it's not a demand issue, with absorption numbers coming in at some of the highest levels in recent history. And now new construction starts are plunging, so what happens if demand remains strong as supply drops off? Jay breaks down those numbers to share why many investors remain bullish on Sun Belt apartments long term. Later in the program, Jay welcomes in Knightvest Capital founder and CEO David Moore, one of the Sun Belt's most active apartment buyers in recent years with more 60,000 units acquired. Jay and David talk about today's operating environment in the Sun Belt, the outlook, and which markets might rebound faster than others. Additionally, as usual, Jay breaks down recent headlines impacting rental housing, fields viewer questions, and tees up another round of Rental Housing Trivia.

Rental housing economist Jay Parsons shares the latest on U.S. apartment market conditions — including a surprisingly massive volume of demand hitting the market in 2024. How did demand match up to the 50-year high in apartment supply delivered in 2024? Jay also unveils which markets saw the biggest gaps — positive and negative — for demand relative to supply, as well as the latest data on occupancy, rents, apartment sales and more. Jay also brings in his old boss, IPA's Director of Research Greg Willett, for a conversation on the state of the U.S. apartment market and outlook for 2025. What markets are outperforming expectations and well positioned going forward? When will apartment sales finally pick back up? And what impact does the stalled-out homebuyer market have on apartments? Additionally, Jay brings back recurring segments of the podcast, including "Rental Housing Trivia" and "In the News."

Rental housing economist Jay Parsons brings out the (fuzzy) crystal ball to lay out predictions for the multifamily and single-family rental markets in 2025. What will become of that wall of maturities? When will the massive wave of apartment supply lease up and trigger a rent rebound? How will the sluggish for-sale housing market impact single-family rentals? After opining on the key trends, Jay then welcomes in Justin Wheeler, the CEO of Berkadia -- one of the biggest players in U.S. multifamily capital markets. Justin shares his predictions on deal flow, cap rates, distress, debt and fundamentals from his front-row seat in the market. And as always, Jay offers up his take on recent headlines related to apartments and SFR, as well as Rental Housing Trivia.

It's end-of-year report card time! Rental housing economist Jay Parsons looks back at predictions he made a year ago on how the apartment and SFR markets would unfold in 2024. What did he get right and wrong? Jay explains two big misses — and what happened that disrupted those predictions. And Jay pats himself on the back for nailing a handful of other predictions — including demand-side expectations and moderating SFR rent growth. Additionally, Jay reviews headlines of the week on rental housing, including controversial headlines around the growing build-to-rent industry and some early news of HUD Secretary nominee Scott Turner's potential priorities. Jay also addresses an audience question around how to talk with family and friends about how rent control exacerbates affordability challenges and why new housing construction (even "luxury"!) help improve affordability at the lower ends of the market.

Rental housing economist Jay Parsons dives into the emerging synergies between multifamily and single-family rentals — two sectors that have historically operated quite separately. The two worlds are gradually merging into one, starting with the hybrid build-to-rent market but now starting to extend into broader operational management practices, as well. One leader in this early movement in Fred Tuomi, Jay's guest in this episode. With uniquely deep experiences in both multifamily (with Equity Residential) and single-family rentals (Invitation Homes, among others), Fred played key roles in the maturation of both sectors into institutional asset classes over the last few decades. He's taken a new challenge with Pretium, an owner of both SFR and apartments, as vice chairman of real estate. Fred shares stories of how apartments and SFR matured into institutional asset classes despite headwinds along the way, and how the merging of multifamily and SFR is the next chapter in the rental housing story. Fred also shares some of his favorite memories working under the late, great Sam Zell at EQR. Additionally, as usual, Jay breaks down some of the latest headlines on rental housing (including news on more mall conversions to include apartments), offers up charts to bust common SFR myths and tees up another round of Rental Housing Trivia.

Would you rather bet on rental housing in Texas or in Southern California? Rental housing economist Jay Parsons breaks down the differences — and similarities — and shares why haters of both regions are mostly wrong. He then brings in "Dr. Doom," aka Waterford co-founder John Drachman, who shares his experiences building out a multifamily platform split between SoCal and Texas ... and why both markets can work well, albeit for different reasons. Jay and John also trade notes on their experiences growing their social media presence, and how LinkedIn in particular has opened up new doors and relationships. Additionally, Jay brings back recurring segments like "Rental Housing Trivia" and "Good Question." And during the "In the News" segment, Jay shares his experiences working with HUD Secretary nominee Scott Turner, and why he's a great fit for the role.

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• 0:00 - Intro
• 1:20 - Market data
• 12:05 - Rental housing trivia
• 12:40 - In the news
• 18:17 - Good question
• 21:00 - John Drachman intro
• 26:25 - Multifamily 
• 29:50 - Texas or SoCal?
• 39:15 - Operational challenges 
• 20:20 - Workforce opportunities 
• 46:10 - Social media
• 51:56 - Outro

Rental housing economist Jay Parsons walks through today's institutional buy box for affordable and workforce housing with FCP's head of impact investing, Alecia Hill. Jay also shares data on the supply shortages impacting all types of rental housing, but especially at the more affordable price points. Jay also breaks down the looming challenges tied to expiring affordable housing tax credits plus aging naturally affordable housing -- and why the solutions aren't as simple as headlines suggest.

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• 0:00 - Intro
• 0:42 - Market Data
• 4:53 - Rental housing trivia 
• 5:22 - In the news
• 9:26 - Good question
• 12:09 - Rental housing trivia
• 14:12 - Alecia Hill intro
• 15:20 - Journey into real estate
• 19:44 - Current market
• 25:05 - Profits vs supply
• 30:23 - Preserving affordability
• 37:53 - Housing policy suggestions
• 41:43 - Biggest misconception
• 47:05 - Outro

Rental housing economist Jay Parsons caps off earnings call season by sharing five big takeaways on the apartment REITs' Q3 2024 earnings calls, and then welcoming in the former CEO of Centerspace REIT, Mark Decker, for a conversation on multifamily REITs and the industry at large. Additionally, Jay brings back recurring segments like "In the News" (reviewing headlines of the new impacting rental housing), "Good Question" (responding to questions on the rental housing market), "New Digs" (highlighting a recent build-to-rent project in this week's episode) and teeing up "Rental Housing Trivia." Mark Decker joins for the second half of the episode, where Jay and Mark talk about the joys and tribulations of being public versus private, address common myths and hurdles around apartment REITs and tackle questions around apartment valuations and opportunities.

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• 0:00 - Intro
• 1:15 - Market data
• 10:52 - Rental housing trivia
• 11:25 - In the news
• 17:29 - New digs
• 18:20 - Good question
• 18:59 - Rental housing trivia answer
• 19:32 - Mark Decker intro
• 20:12 - Real estate journey 
• 25:12- Apartment REITs stock prices 
• 28:21 - Common misunderstandings
• 36:24 - Different regions of REIT markets
• 38:35 - Transition to Proterra
• 42:27 - Market outlook
• 45:41 - Public vs. private 
• 49:08 - Outro

Rental housing economist Jay Parsons breaks down the five key takeaways from the single-family rental REITs' third quarter earnings calls, and then welcomes in Invitation Homes CEO Dallas Tanner for a conversation on the evolution of SFR. Jay talks about what impact recent hurricanes had on the SFR companies, and how they're continuing to pivot away from buying individual homes and toward building new build-for-rent homes. He'll also talk about how new supply competition isn't just a multifamily phenomenon. Jay reviews recent headlines on rental housing -- including more on the potential impact of reduced apartment starts. Jay also brings back recurring segments like "Complaints Department" — dealing with a common myth around homeownership — and "Rental Housing Trivia." Later in the program, Jay asks Dallas about what he saw that others did not in the early days of SFR. Jay and Dallas talk about the evolution of institutional SFR, with public perception of the business shifting from rescuers to boogeymen. And Jay asks Dallas about the future of institutional SFR, and whether this shift toward build-to-rent is a point-in-time strategy or a permanent shift.

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• 0:00 - Intro
• 1:26 - Market data
• 10:10 - Rental housing trivia 
• 10:46 - In the news
• 19:36 - New digs
• 20:54 - Good question
• 23:17 - Complaints department
• 24:58 - Rental housing trivia answer 
• 25:27 - Dallas Tanner intro
• 26:35 - What did Dallas see in SFR?
• 29:45 - Scaling 
• 31:26 - Regulation and finding solutions
• 36:51 - Who are SRF renters? 
• 40:00 - Customer trends and strategy 
• 44:32 - Home ownership
• 53:40 - Outro

Election results are in, and rental housing economist Jay Parsons talks about how President Trump's win could impact rental housing — as well as reviewing California voters' decisive takedown of a ballot measure that would have expanded rent control across the state. Additionally, Jay provides five key indicators showing why new apartment supply will remain constrained for the foreseeable future — and what that could mean for the market. Later in the program, Jay continues the supply conversation with Paul Thrift, CEO of Thompson Thrift, the nation's 13th-largest apartment developer. Paul shares how Thompson Thrift is navigating the challenging headwinds to continue an aggressive push to start new apartment projects across the country.

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• 0:00 - Intro
• 0:59 - Market data
• 9:06 - Rental housing trivia
• 9:40 - In the news
• 16:14 - Good question
• 20:20 - Complaints department 
• 22:22 - Rental housing trivia answer
• 23:36 - Paul Thrift intro
• 25:22 - Origin Thompson Thrift
• 28:12 - Current market conditions
• 31:40 - Construction costs
• 35:20 - Regulations 
• 38:50 - Zoning
• 42:22 - Thompson Thrift markets
• 45:02 - Buyer interest
• 49:45 - Mission to serve 
• 53:26 - Outro

Rental housing economist Jay Parsons provides an Election Day look at the rental housing platforms of Vice President Kamala Harris and former President Donald Trump, commentating on the potential impacts for rental housing investors and renters should either be elected. Later in the program, former Freddie Mac CEO David Brickman joins the show to preview his upcoming paper on the success story of multifamily — and looking at what other countries could learn from the U.S. model that has resulted in more housing availability for renters. David and Jay also talk about upcoming challenges facing the U.S. rental market, including the aging stock of tax credit and naturally occurring affordable housing, and what solutions might address that issue. David also opines on whether Fannie Mae and Freddie Mac should be allowed to provide construction financing to further spur new supply. Additionally, Jay breaks down headlines on California's Prop 33 and the potential impact of SROs (so-called "adult dorms.") And Jay also tees up a special Election Day edition of Rental Housing Trivia.

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• 0:00 - Introduction
• 1:47 - Presidential candidates on housing
• 11:31 - Rental housing trivia
• 12:25 - In the news
• 19:49 - Good question
• 21:06 - Companies department
• 23:59 - Rental housing trivia
• 25:05 - David Brickman intro
• 25:47 - Paper on the success story of multifamily
• 31:08 - Historical analysis
• 34:10 - Construction financing
• 37:50 - Fannie Mae and Freddie Mac
• 41:35 - Rental market concerns
• 46:07 - Solutions
• 50:45 - Outro

Rental housing economist Jay Parsons welcomes in the former CEO of both Fannie Mae and Berkadia, Hugh Frater, to talk about the politicalization of rental housing. Hugh provides a history lesson on how key policy decisions of the past contributed to the housing affordability challenges of today. Jay and Hugh also talk about why supply is the only lasting solution. Additionally, Jay addresses a common misconception about the impact of new supply in the "Complaints Department" segment, while offering up another edition of Rental Housing Trivia.

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• 0:00 - Introduction
• 0:41 - Market data
• 3:51 - Rental housing trivia
• 4:35 - In the news
• 10:16 - Good question 
• 12:08 - Complaints department
• 14:57 - Rental housing trivia answer 
• 16:37 - Hugh Frater introduction
• 17:34 - Housing policy
• 26:00 - Advice to presidential candidates 
• 34:10 - Role of Fannie and Freddie 
• 37:40 - Vessel technologies
• 42:25 - Outro

Rental housing economist Jay Parsons dives into the data to talk about what cities can do to facilitate more new housing supply -- and what barriers get in the way -- while also addressing Q&A and offering up a special LIHTC Birthday Edition of Rental Housing Trivia. He's joined later by Mayor of Bellevue, Dr. Lynne Robinson, to discuss Bellevue's successful partnerships with Amazon and Microsoft to build workforce housing, and also what the federal government can do to help cities build more housing.

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0:00 - Intro 0:00 - Market data 6:13 - Rental housing trivia  6:58 - In the news 13:52 - New digs 15:13 - Good question 17:30 - Complaints department 19:14 - Rental housing trivia answer 20:32 - Dr. Lynee Robinson intro 21:30 - Secret of Bellevue success   25:34 - Partnership with Amazon & Microsoft  29:33 - Developers working with the cities  31:59 - Improving housing policy 37:25 - Advice to developers 40:38 - Outro

Rental housing economist Jay Parsons shares newly released data on Q3 2024 apartment market performance across the U.S. (Hint: Big supply AND big demand!), and offers up rental housing trivia and Q&A. He's joined later by REIT research analyst David Auerbach of Hoya Capital to preview REITs’ earnings season for both SFR and multifamily, and banter on Sun Belt versus Coasts.

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• 0:00 - Intro
• 0:38 - Multifamily research
• 4:33 - Rental housing trivia
• 5:11 - In the news
• 11:31 - New digs
• 12:34 - Good question
• 14:07 - Complaints department 
• 15:27 - Rental housing trivia answer
• 16:21 - David Auerbach introduction
• 17:06 - Tracking REITs 
• 17:57 - REITs earning preview
• 21:51 - Construction landscape 
• 25:02 - Apartments & rent growth
• 27:38 - Sunbelt vs Coastal market
• 35:39 - Private vs public NAVs
• 40:01 - REITs investment landscape
• 41:01 - Midwest market
• 45:15 - Outro

Rental housing economist Jay Parsons shares on the roller-coaster path multifamily supply, covers recent headlines on apartments and single-family rentals, and offers up rental housing trivia and Q&A. He's joined later by Payton Mayes, CEO at apartment developer JPI, to dive into the headwinds facing developers today, how JPI is working around those headwinds, and what policymakers can do to boost housing supply.

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• 0:00 - Intro
• 0:54 - Research around supply
• 4:59 - Rental housing trivia
• 5:39 - In the news
• 11:35 - New digs
• 12:39 - Complaints department
• 14:40 - Rental housing trivia answer
• 15:18 - Payton Mayes introduction
• 16:05- JPI staying active in this environment
• 22:08 - Portfolio in Texas and California 
• 24:21 - Project structure  
• 26:45 - Texas real estate market
• 29:17 - Real estate political landscape 
• 33:55 - Vision for JPI
• 36:00 - Outro

Rental housing economist Jay Parsons discusses myth-busting research around rental affordability, covers recent headlines on apartments and single-family rentals, and offers up rental housing trivia and Q&A. He's joined later by Dan Oberste, CEO at BSR REIT, to dive discuss myths versus realities of being public traded, operating in the Sun Belt, serving market-rate renters and forecasting the multifamily outlook.

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• 0:00 - Intro
• 1:17 - Research around affordability
• 3:53 - Rental housing trivia
• 4:31 - In the news
• 7:27 - Good question
• 8:52 - Complaints department 
• 10:16 - Rental housing trivia answer
• 11:28 - Dan Oberste introduction
• 12:10 - Good/bad of publicly traded REITs 
• 14:56 - Myths around valuations 
• 24:45 - Myths around renters 
• 36:04 - Myths around the Sun Belt 
• 40:50 - Supply/demand: when will rents rebound? 
• 46:58 - Outro

Rental housing economist Jay Parsons discusses the case for middle-income housing investments, covers recent headlines on apartments and single-family rentals, and offers up rental housing trivia and Q&A. He's joined later by Bob Simpson, head of the Multifamily Impact Council, to dive into the investment and policy case for affordable and attainable housing ... as well as a creative potential solution to boost construction.

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• 0:00 - Introduction
• 2:12 - Can investors afford to ignore affordability?
• 7:44 - TX Missing middle 
• 10:29 - Rental housing trivia 
• 11:03 - In the news 
• 20:00 - Good question
• 21:28 - Complaints department
• 24:50 - Rental housing trivia 
• 25:39 - Bob Simpson introduction
• 26:05 - The passion for “impact” in multifamily housing
• 27:57 - Defining affordability
• 20:38 - Solution to affordability
• 36:50 - Missing middle solution
• 39:08 - Impact on investors
• 42:50 - Construction lending
• 49:45 - Bob’s closing statements
• 51:56 - Outro