This week on The Gray Report, Spencer Gray and Senior Analyst Addison Luebert break down the biggest stories shaping U.S. housing and multifamily—from new rent-growth data to headline-grabbing policy proposals coming out of Washington.

We cover:

• CoStar’s latest rent-growth data and why 2025–2026 may bring continued flat or negative performance
• Gray Capital’s 2026 Midwest Multifamily Forecast Report and how our internal projections compare to national models
• How we approach underwriting in a slow-growth environment
• Dynamic pricing (AIRM) and why rent rolls are more complex than ever
• The proposed $2,000 “tariff dividend” stimulus—how COVID-era checks impacted multifamily and what similar policies could mean now
• The proposed 50-year mortgage—who it helps, who it doesn’t, and why it may push home prices higher
• Supply vs. demand—the real driver behind the national affordability crisis
• Concessions, occupancy signals, lender expectations, and operational challenges we’re seeing across the market

Whether you’re an investor, operator, or simply trying to understand today’s multifamily landscape, this episode breaks down the data, the policy debate, and the market forces shaping 2026.

Download the 2026 Midwest Multifamily Forecast Report:

https://www.graycapitalllc.com/2026-multifamily-forecast/