Podcast
The Rent Roll with Jay Parsons
Hosted by Jay Parsons · EN
All things rental housing -- headlines, commentaries and interviews on apartments, SFR, BTR, operations, investments, development, policy and more.
47episodes
Episodes
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EP#92 Quinn Eddins | Mid-Year Multifamily Update
6d ago01:09:25Summary readyMidway through 2026, how is the year playing out relative to expectations for the U.S. apartment market? Rental housing economist Jay Parsons lays out the latest data and trends on supply, demand, occupancy, rents, affordability and much more. One pleasant surprise: Apartment absorption came in hotter than expected in the first half of 2026, leading to the best occupancy improvement since 2021, according to multiple datasets. What's driving those numbers, and is it sustainable? And are rents showing any signs of momentum? Later in the program, Jay brings in Quinn Eddins, the head of research and analytics for the nation's largest apartment operator, Greystar. Quinn and Jay have a friendly debate about the health and durability of apartment demand, and whether the market turned the corner in the 2nd quarter of 2026. Quinn also shares his take on which high-supplied Sun Belt markets are recovering fastest, and which are lagging behind. Also in this episode, Jay shares headlines from the week — touching on the Marriott hotel chain expanding into the apartment business and on New York's apartment construction numbers. And as always, Jay shares another edition of Rental Housing Trivia, too.
SummaryEP#91 Matt DeGraw | When Will Rents Recover? "It Depends..."
2w ago00:49:03Summary readyWhen will the apartment market rebound from the highest supply wave since the 1970s? When will rents recover and concessions burn off and occupancy rates stabilize. In search of an answer, rental housing economist Jay Parsons makes the case for the most oft-dismissed trope in economics: "It depends." In defense of "it depends," Jay shares real data highlighting the how the recovery pace varies dramatically even with the same metro area — and all the variables that can shape the pace of the rebound. In addition, in this week's "In the News" segment, Jay shares the latest intel on the ROAD to Housing Act and also talks about New York City's edict for a two-year rent freeze on rent stabilized apartments, and why the rent stabilized apartment market is becoming increasingly less liquid. As if more evidence needed, Jay discusses news of Google co-founder Sergey Brin selling his stake in a rent stabilized apartment fund for just six cents on the dollar. Furthermore, Jay shares how major new research on the Low Income Housing Tax Credit program proves LIHTC is far more affordable — and reaching far more low-income renters — than its critics want to admit. Later in the program, Jay interviews Bridge Property Management CEO Matt DeGraw. Bridge ranks among the nation's top 20 largest apartment owners. Matt and Jay talk about the apartment market's recovery, leasing trends, and differences between conventional and affordable housing.
SummaryEP#90 Congressman Josh Harder | Inside The Road To Housing Act
3w ago01:01:50Summary readyThe ROAD to Housing Act finally got through Congress this week, only to then hit an unexpected roadblock with the White House, as the President cancelled a planned bill signing ceremony — extending the cloud of uncertainty over the single-family rental and build-to-rent industries. But what's in this bill, and how would it impact rental housing, should it eventually become law? Rental housing economist Jay Parsons breaks down the details and explains why this is not the investor ban that many headlines are portraying it to be. Additionally, U.S. Congressman Josh Harder joins the podcast to take us behind the scenes on the ROAD to Housing Act and explain how the legislation came together and what impact it could have on the market. Rep. Harder was among the members of Congress who helped block Senate legislation that would have effectively nuked build-to-rent construction. Rep. Harder shares his view on how single-family rentals fit into the housing fabric of the U.S., and why conspiracy theories tend to dominate the housing narratives.
SummaryEP#89 David Bragg | Inside UDR Apartment REIT
4w ago00:58:27Summary readyRental housing economist Jay Parsons dives deep with UDR, America's longest-running apartment REIT, sharing the story from UDR's founding as a small Virginia operator in the 1970s to its growth into an S&P 500 company — and the many turns along the way. UDR's chief financial officer, David Bragg, joins the podcast and covers a wide range of topics from thoughts on the AvalonBay/Equity Residential merger to stock buybacks to managing apartments without leasing staff on site. Additionally, Jay gives his take on the big headline of the week: The U.S. Senate and House reached agreement on the ROAD to Housing Act, clearing its path to passage. What does that mean for single-family rentals and build-to-rent? Jay summarizes the legislation and its potential impact. Also, Jay shares the latest Census data on multifamily starts, and why you should take that data with a heavy grain of salt.
SummaryEP#88 Alan King | The "Other" Berkshire
Jun 1100:58:33Summary readyIt's one of the largest apartment owners in the U.S., yet still often suffers from a case of mistaken identity: Berkshire. As in Berkshire Residential Investments, not Berkshire Hathaway. The two are not related, yet both companies track back 60+ years with names originating from the same part of the country. Rental housing economist Jay Parsons shares the story of the "other" Berkshire, and then talks with Berkshire's managing director and head of property operators, Alan King, about the state of the apartment market across the country. Berkshire operates all over the country, and Alan shares which markets are seeing market conditions improving fastest and how he sees the year progressing for multifamily operators. Additionally, with spring now in the books, Jay shares the latest on apartment rent and occupancy trends. Did the spring leasing play out as expected? Also in this episode, Jay breaks down a busy week of news headlines — including a lengthy article critical of the Low Income Housing Tax Credit, plus three major news releases from apartment REITs.
SummaryEP#87 David Oelfke | Preferred Equity, Debt & Anything But Common Equity
Jun 400:59:54Summary readyRental housing economist Jay Parsons breaks down the realities of today's multifamily market: Debt is readily available, but equity is not ... unless it's preferred equity. Jay shares the latest data, including the historic spike in apartment loan originations, and explains why that might trigger some institutions to shift back toward equity strategies. Later in the program, Jay is joined by one of the early believers in the preferred equity, Marble Capital's David Oelfke. David talks about his journey starting ARA, growing it (along with partners) into a major apartment brokerage shop, selling it to Newmark, and then starting a new venture focused on preferred equity. How does preferred equity work and what are the advantages over common equity? Additionally, Jay analyzes the latest headlines on rental housing, including another big platform acquisition.
SummaryEP#86 Emily Watson | In-House vs. 3rd-Party Management
May 2801:01:33Summary readyIs it better to manage properties in house, or to outsource to a third-party manager? It's an age-old question, and there's no one-size-fits-all answer. But there's no doubt that we continue to see far more consolidation in the management business than we do in property ownership. Why is that? Lantower Residential COO Emily Watson joins the podcast to share her experience, and talks about why her answer has evolved. Lantower recently made the decision to close its in-house management arm and hire a national third-party property manager. Emily candidly shares what drove that decision, how technology is changing the management game, and what early results they've seen thus far. Additionally on this episode, rental housing economist Jay Parsons gives his take on a busy week of headlines — breaking down the announced merger between AvalonBay and Equity Residential, as well as analyzing the impact of the U.S. House's major housing bill that just passed with overwhelmingly bipartisan support. Jay also shares recurring segments like Rental Housing Trivia, Good News and New Digs — where he profiles a recently announced major office-to-residential tower conversion.
SummaryEP#85 Rob Reid | What Still Pencils Out To Build? + The Art of Placemaking
May 2101:02:14Summary readyIt's a very tough environment for apartment developers to get new projects started these days, with starts cut in half from 2022's peak levels. So what are the common denominators for projects breaking ground of late? Rental housing economist Jay Parsons dives into the data and shares five common themes among projects that are still working today even amidst softer rents and higher cost of capital. One unique profile includes master-planned development with long-term build-to-hold ownership. Jay travels to Raleigh and talks with Rob Reid of Kane Realty — which has been some of Raleigh's coolest live/work/play neighborhoods — for a conversation on placemaking. Additionally, Jay brings back recurring segments like In the News, Rental Housing Trivia, Good Question and Good News.
SummaryEP#84 Jesse Lederman | 4 Takeaways From Q1'26 SFR REITS' Earnings Calls
May 1401:08:12Summary readyRental housing economist Jay Parsons shares his top four takeaways from the single-family rental REITs' Q1'26 earnings calls — including how they're navigating heightened regulatory risk surrounding the ROAD to Housing Act, why stock buybacks are now preferred over investing in new development, how leasing activity is picking up this spring after a slow fall and winter, and much more. Additionally, Jay shares the latest news on the federal legislation: Will build-to-rent get carved out? Additionally, Jay shares headlines about the emergence of an unlikely pro-development folk hero and the bizarre rent inflation numbers released this week. And in this week's "Good News" segment, Jay tells the story of how one apartment manager helped a resident get through college — and how that resident is now paying it forward. Later in the program, Jay welcomes in Zelman's SFR REIT analyst, Jesse Lederman, for a conversation on AMH and Invitation Homes. Jesse shares his view on regulatory risk, the recent improvement in the REITs' stock prices, the leasing season, and the SFR outlook.
SummaryEP#83 Alexander Goldfarb | 6 Takeaways From Q1'26 Multifamily REITS' Earnings Calls
May 701:27:53Summary readyRental housing economist Jay Parsons recaps his six big takeaways from the apartment REITs' first quarter earnings calls that just wrapped up — starting with the big news that leaked after hours, the rumored merger discussions between AvalonBay and Equity Residential. What would be the implications of merging two of the biggest names in multifamily? Jay also shares color and highlights from the REITs' calls — touching on spring leasing momentum, rents, the big push toward stock buybacks over acquisitions, and differences between key markets across the U.S. Jay also shares the latest news on the ROAD to Housing Act, which took a positive turn this week as Politico reported the White House was pulling its support for the Senate legislation that effectively bans most build-to-rent construction. Also in the program, Jay welcomes in veteran Wall Street REIT analyst Alexander Goldfarb of Piper Sandler, who shares his take on the last rounding of earnings calls, the potential merger between AVB and EQR, and his thoughts on why REIT investors value apartments below net asset value.
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