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.