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The Walker Webcast
Jay Parsons, Principal and Head of Investment Strategy at Madera Residential
Nov 21, 2024
Join Jay Parsons, Principal and Head of Investment Strategy at Madera Residential, as he shares his deep insights into the multifamily market. He reflects on the 2024 rental landscape, addressing rising interest rates, inflation, and the Fed's policies. Jay discusses the recent St. Paul rent cap's unintended consequences on construction and affordability. He also offers strategies for maintaining occupancy amidst new supply and analyzes the differences between Sunbelt and coastal markets. Dive into his economic outlook and understand the complexities of current housing challenges!
01:18:48
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Quick takeaways
- The multifamily rental market is experiencing low sales volumes due to a shortage of sellers despite strong buyer demand and cap rate pressures.
- Interest rates are creating challenges for property investors, impacting borrowing costs and leading to cautious transaction volumes in the multifamily sector.
Deep dives
Market Optimism Amid Low Transaction Volumes
Despite a prevailing sense of optimism in the commercial real estate market, apartment sales volumes have plummeted to their lowest levels in a decade. Buyers are eager to transact, yet they face a significant shortage of sellers, primarily due to the absence of distress sales that many anticipated this year. As a result, cap rates are experiencing downward pressure, indicating a seller's market where the balance favors buyers. The pent-up demand for housing remains strong, particularly for multifamily units, suggesting that a shift could occur as more sellers come to market.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode