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.