The Rent Roll with Jay Parsons

Dennis Shea, Executive Director of the J. Ronald Terwilliger Center for Housing Policy, shares insights from his extensive experience in housing and trade. He discusses the potential impact of a declared 'national housing emergency' and the need for pro-housing policies. Shea emphasizes the importance of reforming the Low-Income Housing Tax Credit (LIHTC) to enhance efficiency. He also advocates for a new renter tax credit designed for essential workers and explores strategies to tackle the affordable housing crisis. Tune in for fresh perspectives on housing policy!

Jim Costello, the Chief Economist at MSCI Real Assets, joins to share his expertise on the multifamily capital markets. He discusses the potential distress in the apartment sector and the significant lack of development capital. The conversation touches on the current influx of debt funds and strategic insights into the buy box for institutional capital. Additionally, the growing momentum of apartment sales transaction activity is explored, alongside recent headlines about a rent control proposal in Massachusetts.

Matt Ferrari, Co-chief Investment Officer and Head of Acquisitions at TruAmerica, shares his thrilling journey to the summit of Mount Everest, revealing the intense preparation and near-miss experiences he faced. He contrasts this adventure with insights into the multifamily acquisitions market, discussing how TruAmerica navigates challenges and finds value in today's shifting landscape. With a focus on evolving real estate trends and the importance of adaptive strategies, Matt's dual narrative of conquering peaks and closing deals offers an inspiring perspective.

In this engaging conversation, Michael Novogradac, a leading voice on rental housing tax policy and a partner at Novogradac & Co., discusses the implications of the 'One Big Beautiful Bill' on affordable housing. He shares insights from his testimony to Congress and evaluates the bill's effectiveness in addressing housing issues. The talk also covers a groundbreaking study on how tenant protections can inadvertently drive up rents, emphasizing the need for data-driven policies. Prepare for fascinating insights and trivia questions that unpack the complexities of housing legislation!

Dan Meader, founder and managing partner at Trinity Investors, shares valuable insights on what Limited Partners (LPs) seek in today’s competitive rental housing market. The conversation dives into strategies General Partners (GPs) can use to engage LPs effectively. They also tackle the latest trends in multifamily housing starts, questioning the reliability of Census data and its impact on public policy. With a spotlight on the evolving dynamics of real estate investment, Meader emphasizes transparency and the critical characteristics of successful GPs.

Rich Hightower, Managing Director of U.S. REIT Equity Research at Barclays, shares insights from years of tracking apartment REITs. He reveals how Wall Street views these investments, noting discrepancies between public and private market valuations. Rich discusses successful REIT strategies in an era of high supply and rent challenges, including renovation and technology adoption. Additionally, they examine market movements, recent sales like Elme Communities’ portfolio, and the nuances of navigating rent control dynamics, emphasizing the evolving landscape of multifamily housing.

Sean Dobson, Chairman and CEO of Amherst, dives into the evolving landscape of the single-family rental market. He discusses the impact of declining first-time homebuyers and examines the current leasing environment. The conversation unveils how SFR REITs are navigating market challenges and the myths clouding institutional investing. Dobson also highlights the integral need for quality single-family rentals amidst a housing crisis and addresses misconceptions surrounding the industry's role in revitalizing neighborhoods.

In this conversation, Matt Vance, the Americas Head of Multifamily Research at CBRE, shares his expertise on the U.S. apartment market. He discusses the recent slowdown in rent growth despite strong demand and improved affordability trends. Vance highlights the performance of various metro areas, suggesting potential recovery spots in high-supply markets like the Sun Belt. They also tackle the impact of new capital in multifamily markets and the trends in the single-family rental landscape, offering keen insights into the evolving rental dynamics.

Zach Bowyer, Executive Managing Director at Cushman & Wakefield, shares his expertise in real estate valuation, focusing on apartments and single-family rentals. He discusses how interest rates and rental trends have impacted asset values and common misconceptions about valuation. The conversation also highlights surprising statistics from recent Census data on multifamily housing starts and the importance of understanding shelter costs in inflation dynamics. Bowyer gives insights into evolving strategies in the multifamily market amidst significant economic shifts.

Hiten Samtani, a commercial real estate journalist and founder of 1031 Media, dives into the intricacies of media coverage surrounding rental housing. He discusses the decline of beat reporting and its effect on public perception of the industry. Together with Jay Parsons, Hiten emphasizes the need for housing owners to address negative stereotypes and provides strategies to counter misleading headlines. Their conversation highlights the delicate relationship between media narratives and rental realities, urging for more accurate journalism that reflects the complexities of the housing market.