The Walker Webcast Jay Parsons, Principal and Head of Investment Strategy at Madera Residential
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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!
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Jay's Background
Jay Parsons, the Principal and Head of Investment Strategy at Madera Residential, is a former chief economist at RealPage. He is a father of five and a Dallas Cowboys fan, showcasing his personal life while engaging in industry discussions.
Market Dynamics and Supply
The rental market is experiencing a bifurcation; high-end markets are seeing rising demand while affordable housing remains scarce. This disparity reveals a deeper issue in housing affordability.
Focus on Retention Strategies
Implement a heads-on-bed strategy to enhance tenant retention. Encourage property managers to prioritize tenant satisfaction and timely communication to improve renewal rates.