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.
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53:28
EP#19 Chris Porter | How Demographic Shifts Impact Renting
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.
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1:04:53
EP#18 Steve Kimmelman | Build-To-Rent Update With The BTR King
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.
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44:34
EP#17 David Moore | The Re-Rise Of The Sun Belt
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.
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54:07
EP#16 Greg Willett | Q1'25 U.S. Apartment Market Update
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."
USA