The Rent Roll with Jay Parsons

Would you rather bet on rental housing in Texas or in Southern California? Rental housing economist Jay Parsons breaks down the differences — and similarities — and shares why haters of both regions are mostly wrong. He then brings in "Dr. Doom," aka Waterford co-founder John Drachman, who shares his experiences building out a multifamily platform split between SoCal and Texas ... and why both markets can work well, albeit for different reasons. Jay and John also trade notes on their experiences growing their social media presence, and how LinkedIn in particular has opened up new doors and relationships. Additionally, Jay brings back recurring segments like "Rental Housing Trivia" and "Good Question." And during the "In the News" segment, Jay shares his experiences working with HUD Secretary nominee Scott Turner, and why he's a great fit for the role.=========================0:00 - Intro1:20 - Market data12:05 - Rental housing trivia12:40 - In the news18:17 - Good question21:00 - John Drachman intro26:25 - Multifamily 29:50 - Texas or SoCal?39:15 - Operational challenges 20:20 - Workforce opportunities 46:10 - Social media51:56 - Outro

Alecia Hill, Vice President for Impact Investing at FCP, specializes in affordable housing investment strategies. In this discussion, she delves into the declining availability of low-rent units amid new upscale developments. Hill shares her journey from performing arts to real estate and underscores the need for innovative public-private partnerships. The conversation also tackles the challenges tied to expiring affordable housing tax credits and highlights the complex landscape of housing policy reforms necessary for tackling today's affordability crisis.

Rental housing economist Jay Parsons caps off earnings call season by sharing five big takeaways on the apartment REITs' Q3 2024 earnings calls, and then welcoming in the former CEO of Centerspace REIT, Mark Decker, for a conversation on multifamily REITs and the industry at large. Additionally, Jay brings back recurring segments like "In the News" (reviewing headlines of the new impacting rental housing), "Good Question" (responding to questions on the rental housing market), "New Digs" (highlighting a recent build-to-rent project in this week's episode) and teeing up "Rental Housing Trivia." Mark Decker joins for the second half of the episode, where Jay and Mark talk about the joys and tribulations of being public versus private, address common myths and hurdles around apartment REITs and tackle questions around apartment valuations and opportunities.========================0:00 - Intro1:15 - Market data10:52 - Rental housing trivia11:25 - In the news17:29 - New digs18:20 - Good question18:59 - Rental housing trivia answer19:32 - Mark Decker intro20:12 - Real estate journey 25:12- Apartment REITs stock prices 28:21 - Common misunderstandings36:24 - Different regions of REIT markets38:35 - Transition to Proterra42:27 - Market outlook45:41 - Public vs. private 49:08 - Outro

Rental housing economist Jay Parsons breaks down the five key takeaways from the single-family rental REITs' third quarter earnings calls, and then welcomes in Invitation Homes CEO Dallas Tanner for a conversation on the evolution of SFR. Jay talks about what impact recent hurricanes had on the SFR companies, and how they're continuing to pivot away from buying individual homes and toward building new build-for-rent homes. He'll also talk about how new supply competition isn't just a multifamily phenomenon. Jay reviews recent headlines on rental housing -- including more on the potential impact of reduced apartment starts. Jay also brings back recurring segments like "Complaints Department" — dealing with a common myth around homeownership — and "Rental Housing Trivia." Later in the program, Jay asks Dallas about what he saw that others did not in the early days of SFR. Jay and Dallas talk about the evolution of institutional SFR, with public perception of the business shifting from rescuers to boogeymen. And Jay asks Dallas about the future of institutional SFR, and whether this shift toward build-to-rent is a point-in-time strategy or a permanent shift.======================0:00 - Intro1:26 - Market data10:10 - Rental housing trivia 10:46 - In the news19:36 - New digs20:54 - Good question23:17 - Complaints department24:58 - Rental housing trivia answer 25:27 - Dallas Tanner intro26:35 - What did Dallas see in SFR?29:45 - Scaling 31:26 - Regulation and finding solutions36:51 - Who are SRF renters? 40:00 - Customer trends and strategy 44:32 - Home ownership53:40 - Outro

Election results are in, and rental housing economist Jay Parsons talks about how President Trump's win could impact rental housing — as well as reviewing California voters' decisive takedown of a ballot measure that would have expanded rent control across the state. Additionally, Jay provides five key indicators showing why new apartment supply will remain constrained for the foreseeable future — and what that could mean for the market. Later in the program, Jay continues the supply conversation with Paul Thrift, CEO of Thompson Thrift, the nation's 13th-largest apartment developer. Paul shares how Thompson Thrift is navigating the challenging headwinds to continue an aggressive push to start new apartment projects across the country.=======================0:00 - Intro0:59 - Market data9:06 - Rental housing trivia9:40 - In the news16:14 - Good question20:20 - Complaints department 22:22 - Rental housing trivia answer23:36 - Paul Thrift intro25:22 - Origin Thompson Thrift28:12 - Current market conditions31:40 - Construction costs35:20 - Regulations 38:50 - Zoning42:22 - Thompson Thrift markets45:02 - Buyer interest49:45 - Mission to serve 53:26 - Outro

Rental housing economist Jay Parsons provides an Election Day look at the rental housing platforms of Vice President Kamala Harris and former President Donald Trump, commentating on the potential impacts for rental housing investors and renters should either be elected. Later in the program, former Freddie Mac CEO David Brickman joins the show to preview his upcoming paper on the success story of multifamily — and looking at what other countries could learn from the U.S. model that has resulted in more housing availability for renters. David and Jay also talk about upcoming challenges facing the U.S. rental market, including the aging stock of tax credit and naturally occurring affordable housing, and what solutions might address that issue. David also opines on whether Fannie Mae and Freddie Mac should be allowed to provide construction financing to further spur new supply. Additionally, Jay breaks down headlines on California's Prop 33 and the potential impact of SROs (so-called "adult dorms.") And Jay also tees up a special Election Day edition of Rental Housing Trivia.======================0:00 - Introduction1:47 - Presidential candidates on housing11:31 - Rental housing trivia12:25 - In the news19:49 - Good question21:06 - Companies department23:59 - Rental housing trivia25:05 - David Brickman intro25:47 - Paper on the success story of multifamily31:08 - Historical analysis34:10 - Construction financing37:50 - Fannie Mae and Freddie Mac41:35 - Rental market concerns46:07 - Solutions50:45 - Outro

Rental housing economist Jay Parsons welcomes in the former CEO of both Fannie Mae and Berkadia, Hugh Frater, to talk about the politicalization of rental housing. Hugh provides a history lesson on how key policy decisions of the past contributed to the housing affordability challenges of today. Jay and Hugh also talk about why supply is the only lasting solution. Additionally, Jay addresses a common misconception about the impact of new supply in the "Complaints Department" segment, while offering up another edition of Rental Housing Trivia.=====================0:00 - Introduction0:41 - Market data3:51 - Rental housing trivia4:35 - In the news10:16 - Good question 12:08 - Complaints department14:57 - Rental housing trivia answer 16:37 - Hugh Frater introduction17:34 - Housing policy26:00 - Advice to presidential candidates 34:10 - Role of Fannie and Freddie 37:40 - Vessel technologies42:25 - Outro

Dr. Lynne Robinson, the Mayor of Bellevue, Washington, shares her insights on the city's innovative partnerships with tech giants like Amazon and Microsoft to tackle workforce housing issues. She discusses how collaboration between local governments and developers can streamline housing policies. Dr. Robinson highlights successful strategies that balance community needs while addressing housing shortages. She also offers advice for developers looking to navigate local policies and create win-win scenarios for both cities and residents.

Join David Auerbach, a REIT research analyst at Hoya Capital, as he dissects the current trends in the rental market. He shares insights on the robust Q3 2024 apartment performance, where both supply and demand are soaring. David also previews earnings for single-family and multifamily REITs, discussing the contrasting landscapes of the Sun Belt versus coastal markets. He touches on the impact of tenant satisfaction and the unique challenges facing homeowners and landlords in today’s fluctuating economic climate.

Rental housing economist Jay Parsons shares on the roller-coaster path multifamily supply, covers recent headlines on apartments and single-family rentals, and offers up rental housing trivia and Q&A. He's joined later by Payton Mayes, CEO at apartment developer JPI, to dive into the headwinds facing developers today, how JPI is working around those headwinds, and what policymakers can do to boost housing supply.========================0:00 - Intro0:54 - Research around supply4:59 - Rental housing trivia5:39 - In the news11:35 - New digs12:39 - Complaints department14:40 - Rental housing trivia answer15:18 - Payton Mayes introduction16:05- JPI staying active in this environment22:08 - Portfolio in Texas and California 24:21 - Project structure  26:45 - Texas real estate market29:17 - Real estate political landscape 33:55 - Vision for JPI36:00 - Outro