EP#44 Matt Vance | Q3 '25 Apartment Market Update & Outlook
Why is apartment rent growth slowing down again? That's the big plot twist in the latest data on the U.S. apartment market. Rental housing economist Jay Parsons dives into that question and much more in this Q3 2025 Apartment Market Update and Outlook. Later in the program, Jay welcomes in CBRE's Americas head of multifamily research, Matt Vance. Jay and Matt chat about what is driving the current slowdown in rent growth, while also highlighting the continued strong demand, improved affordability trends and low turnover. And what markets could recover first, particularly among the high-supplied Sun Belt and Mountain markets? Jay and Matt also talk about the state of the multifamily capital markets, and when we'll see all that much-discussed dry powder drive sales volumes back up. Additionally, Jay reviews the latest headlines in rental housing — including some major news on the single-family rental market — and offers up another edition of "Rental Housing Trivia."
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EP#43 Zach Bowyer | Where Are Apartment & SFR Values?
It's the valuation edition, featuring Cushman & Wakefield's head of valuation and advisory for the living sector, Zach Bowyer. Jay and Zach discuss where asset values are today (for apartments and SFR) compared to the peak, and how much interest rates play a role in the decline relative to the rent and NOI slowdown. Jay asks Zach to opine on how he thinks about values, what most of us laypeople get wrong about valuation, and his thoughts on where values go from here. Additionally, in the "Here's a Chart" segment, Jay breaks down why the latest Census data on multifamily starts appears highly suspect, as well as the big story on CPI inflation not getting enough attention right now. Jay also reviews the latest headlines impacting multifamily and SFR, including news about the potential launch of a new apartment REIT.
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EP#42 Hiten Samtani | The Media & Rental Housing
Rental housing economist Jay Parsons is joined by commercial real estate journalist Hiten Samtani for a hearty discussion on how the media covers apartments and single-family rentals. Jay and Hiten talk about the "lost art of beat reporting," with relatively short tenures on the housing beat, and how that impacts rental housing coverage. Hiten also challenges rental housing owners to call out the bad apples from their bunch, and the two then commiserate on something the media and housing industries share in common: public images tainted by the small share of bad actors. Hiten also shares some advice: How can apartment and SFR owners and managers proactively work to combat misleading headlines, or should they just ignore it? Additionally, Jay brings back recurring segments like Here's a Chart, Rental Housing Trivia and In the News.
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EP#41 Bryan Smith | A Conversation With AMH's New CEO
American Homes 4 Rent CEO Bryan Smith joins rental housing economist Jay Parsons on the podcast to reflect back on the early years of institutional single-family rentals, and how AMH became one of the leading players in the still-small institutional SFR market. How much have the initial strategies held up since AMH's 2013 IPO? You might be surprised to find it's quite a lot -- from target demographics to asset types to centralized operating strategies. Bryan also shares what drove AMH to move away from buying individual homes, and shift heavily into building new BTR homes. Jay and Bryan also talk about expansion markets, as well as how a healthier homebuyer market could benefit the rental housing business. Additionally, Jay reviews headlines impacting rental housing — including California legislation weakening NIMBYs' abilities to block new housing, as well as implications of the New York City mayoral race on apartments.
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EP#40 David Schwartz | Contrarian Apartment Investing 101
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.
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