The Rent Roll with Jay Parsons

Jay Parsons
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The Rent Roll with Jay Parsons

All things rental housing -- headlines, commentaries and interviews on apartments, SFR, BTR, operations, investments, development, policy and more.

  1. 4 DAYS AGO

    EP#26 Barrett Linburg | Opportunity Zones & The Wizard of Oz

    Rental housing economist Jay Parsons breaks down a new groundbreaking study on Opportunity Zones, which have proven to be remarkably effective — and efficient — in producing housing. Jay shares key takeaways from the study and then welcomes in "The Wizard of OZ" — Opportunity Zone apartment developer Barrett Linburg. Barrett and Jay talk about why the program has been a win/win for investors and for renters, and also previews what OZ 2.0 might look like as Congress works on potentially expanding and extending the Opportunity Zone legislation. Additionally, Jay reviews the latest headlines impacting rental housing — including two states discussing new rent control programs — and offers up another edition of "Rental Housing Trivia" and "Complaints Department."

    59 min

  2. 13 MAR

    EP#25 Michael Van Der Poel | Today's Institutional Buy Box

    Rental housing economist Jay Parsons talks about the shifting institutional appetite for apartments and build-to-rent SFR with ACRE co-founder Michael Van Der Poel. Jay shares the latest data on capital flows-- which have increasingly shifted away from higher regulated markets on the coasts toward growth markets in the Sun Belt and Mountains, as well as the Midwest. Jay highlights the unique challenges in Los Angeles in particular, and why its attracting a far smaller share of apartment investment and development dollars today compared to past cycles. Additionally, Jay highlights the specific markets that have gobbled up a larger share of investment dollars in recent years, including big markets like Dallas/Fort Worth and also smaller markets like Charleston. Jay and Michael also discuss equity and debt strategies for institutions, market preferences, BTR, and whether now is the time to invest in new development again. Additionally, Jay brings back recurring features like "Rental Housing Trivia" and "In the News."

    49 min

  3. 6 MAR

    EP#24 Matthew Putterman | Single-Family Rental REITs Earnings Recaps

    Rental housing economist Jay Parsons breaks down the five key takeaways from the single-family rental housing REITs' recent earnings calls. The big one: Why did SFR revenue growth slow down given few home sales plus a large discount to rent versus buy? Punchline: The mainstream narrative has been wrong — and always was wrong. Jay breaks down why that's happening. Jay also shares the latest on how and why the SFR REITs continue to recycle capital — selling older, scattered-site homes and investing in new home construction. Jay also brings back recurring segments like "In the News" and "Rental Housing Trivia." Later in the program, Jay talks shop with one of the nation's top SFR brokers, JLL's Matthew Putterman. Jay and Matthew talk about the current SFR buy box, why institutions aren't buying houses off the MLS anymore, and how regulatory risk is impacting investment strategies.

    56 min

  4. 27 FEB

    EP#23 Jasin Alfaro | The Case For Tertiary Markets

    Rental housing economist Jay Parsons makes the case for tertiary markets — smaller metro areas outside the top 50 in size. Jay shares data on how (and why) smaller markets have outperformed on rent growth in recent years, and reveals which tertiary markets might continue to see strong demand for apartments and single-family rentals into the next cycle. Jay also shows data highlighting how investors have increasingly shown interest in smaller markets, which now comprise around 20% of all U.S. apartment sales — up substantially over the last 15 years. Later in the program, Jay brings into the discussion Jasin Alfaro, CEO of Metonic, to dive deeper into tertiary market strategies. Metonic is the Omaha-based owner of 10,000+ apartment units across the Midwest, Texas and California. Jasin reveals why Metonic believes in tertiary markets, what he looks for when selecting a smaller market, and how to sell investors on markets they may not know well. Additionally, Jay brings back recurring segments like "In the News," "New Digs" and "Rental Housing Trivia."

    55 min

  5. 20 FEB

    EP#22 Daniel Walsh | Is Debt The New Equity? Sort Of.

    Rental housing economist Jay Parsons dives into the growing trend of institutions expanding or creating debt funds targeting multifamily. Jay is joined for the discussion by Dan Walsh, the founder and CEO of Citymark Capital, which sold most of its apartment equity investments around the market's peak, and has since shifted to buying loans from banks and debt funds. Dan shares what led him to make that shift when he did, and why he's favoring debt over equity right now. Additionally, Jay breaks down a busy week of headlines on apartments and single-family rentals — including KKR's new $850 million debt fund, JPMorgan's big bet on build-to-rent homes, a Boston mayoral candidate's novel rent control proposal and a questionable headline from The New York Times. Jay also shares more highlights from REIT earnings calls, plus a REIT-themed edition of "Rental Housing Trivia."

    51 min

  6. 13 FEB

    EP#21 Ric Campo | Apartment REITs' Earnings Recap

    Rental housing economist Jay Parsons breaks down highlights and key themes from the big six apartment REITs' recent earnings call. Jay shares the REITs' case for ramping up apartment construction at a time when most builders are unable to start projects, and why Sun Belt REITs believe the "tide is starting to turn" on the supply/demand balance, among other takeaways. Jay later welcomes in the co-founder and CEO of one of the big apartment REITs, Ric Campo of Camden Property Trust. Jay and Ric discuss the impact of high supply in the Sun Belt, the timing of the recovery, and the case for a more bullish stance on new development and acquisitions in 2025. Ric also shares the colorful story behind Camden's theme songs in each quarterly earnings call -- and all the thought that goes into selecting each one. Additionally, Jay touches on recent headlines during the "In the News" segment, highlights the largest-to-date office-to-apartment conversion project, and tees up a special round of Rental Housing Trivia.

    1h 4m

  7. 6 FEB

    EP#20 Ivan Barratt | NMHC Buzz & Midwest Love

    Rental housing economist Jay Parsons recaps highlights from the multifamily investment community's biggest event, the NMHC Annual Meeting, and then dives into the case for the Midwest. Why are institutional and other large multifamily/SFR investors showing an interest in the Midwest after basically ignoring the region for many years? Jay breaks down what's driving renewed interest in the Midwest, and which markets are standing out. Later on, Jay brings Ivan Barratt into the conversation. Barratt is the founder and CEO of BAM Companies, one of America's fastest-growing private companies and also one of the Midwest's fastest-growing apartment owners. Jay and Barratt talk about the unique challenges (and opportunities!) of raising and deploying capital into Midwest markets, and how new entrants into these markets are changing the game there. Additionally, Jay brings back recurring segments like "Rental Housing Trivia" and "In the News," while also introducing a new segment called "Off Topic." Jay briefly detours from rental housing real estate to bemoan the Dallas Mavericks' trade of generational star Luka Doncic, and offers up a parallel from 65 years ago that just might serve as a cautionary tale for what's ahead for Mavs fans.

    53 min

  8. 30 JAN

    EP#19 Chris Porter | How Demographic Shifts Impact Renting

    Rental housing economist Jay Parsons talks all things rental housing demographics with the man who literally wrote the book on housing demographics, Chris Porter of John Burns Research & Consulting. Jay and Chris share the latest data on household formation, population by age, migration, incomes, renter preferences — and then tie back how these data points impact the trajectory of the apartment and single-family rental markets. Chris also looks back at the book he co-authored nearly a decade ago, Big Shifts Ahead, and shared what he got right (the boom of the suburbs) and what he got wrong (homeownership went up, not down) — and why. They also talk about demographics differ between apartments, SFR and BTR. Additionally, Jay breaks down the latest headlines impacting rental housing, including a new FTC inquiry into single-family rentals.

    1h 5m
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All things rental housing -- headlines, commentaries and interviews on apartments, SFR, BTR, operations, investments, development, policy and more.

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