Real Talk: Real Estate Discussions with Andrew Kirsh

What’s Really Happening in the Multifamily Industry with Leading Economist Jay Parsons of Madera Residential

Jun 13, 2024

Leading economist Jay Parsons from Madera Residential discusses the disconnect between the Fed and property owners, solving for missing middle housing, predictions for distressed multi-family deals, net effective rent, market trends from sunbelt to coastal areas, and challenges in multifamily construction financing.

35:47

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Episode guests

Jay Parsons

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Episode notes

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Quick takeaways

Discrepancy between rental rates for new and existing renters due to increased supply in the market.

Multifamily industry shifting towards more attainable housing projects targeting middle-income households.

Deep dives

Real Estate Market Trends

Despite the traditional summer slowdown, the real estate market is currently experiencing increased activity across various asset classes, including hotel, office, industrial, and multifamily deals. Industry professionals are observing a surge in transactions, with new LOIs, PSAs, development projects, and construction deals taking place.

Intro

2min

Discussion on Jay Parsons' Role at Madera Residential and Company Expansion Plans

2min

Challenges in Measuring Housing Costs and Rental Rates

7min

Analyzing Net Effective Rent and Landlord Incentives in the Multifamily Industry

2min

Shifting Trends and Strategies in the Multifamily Market

10min

Challenges and Opportunities in Multifamily Construction Financing

13min

In this episode of Real Talk, I speak with Jay Parsons of Madera Residential, a Lubbock, Texas-based property investment company with offices in Dallas and Houston that specializes in investing in and transforming apartment communities across Texas and beyond.

We discuss:

* Why there is a disconnect between the Fed and property owners as it relates to multi-family rental rates

* Solving for the missing middle

* When will we see more distressed multi-family deals

Learn more about Jay Parsons:

* Connect with Jay on LinkedIn: https://www.linkedin.com/in/jay-parsons-a7a6656/

* Read Jay ‘s bio on Madera Residential’s website: https://maderaresidential.com/about-us

Key moments:

0:31 – Intro

4:28 – Jay’s market research on multifamily trends

11:29 – Net effective rent

13:05 – From the sunbelt to coastal markets

19:35 - About Madera Residential

23:03 – Capital for new construction

26:08 – Favorable markets

27:43 – 2024 predictions

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In each episode of Real Talk: Real Estate Discussions, Andrew Kirsh interviews industry leaders to learn their real-time opinions on today's market, their background and unique career highlights, and guidance for newcomers to the industry.

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Andrew Kirsh is a founding partner of Sklar Kirsh LLP and is the Chair of the firm’s Real Estate Department. Sklar Kirsh LLP is a boutique law firm providing services in corporate law, real estate, entertainment, bankruptcy, and litigation.

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