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.