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.
50episodes
Episodes
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EP#65 John Burns | 15 Predictions for Apartments & SFR 2026
Jan 101:21:34Summary readyIt's predictions time! Rental housing economist Jay Parsons shares 15 predictions for apartments and single-family rentals in 2026 — including his take that apartment absorption could drop off even if job market rallies, and Jay explains why that's not necessarily a bad signal for the sector. Jay also shares his takes on the impact of immigration policy, the outlook for apartment and SFR rents, and what role distress might play in the capital markets. In addition, the main event of this episode is our guest, the one and only John Burns — the founder and CEO of John Burns Research & Consulting. John shares his take on the 2026 outlook for home sales and for rental housing, and why 2026 could be a "boring year" in his words. Additionally, Jay shares the latest headlines touching on rental housing, including a big article from Bloomberg on how "luxury" apartments and pushing down rents even for lower-income renters.
SummaryEP#64 Mike Wolfson | What I Got Wrong (And Right!) In 2025
Dec 1800:59:37Summary readyRental housing economist Jay Parsons rolls back the tape on his 10 predictions for the apartment and single-family rental market in 2025. What played out as expected, and where did he miss? It turns out there was a common theme among the two big "misses." In the second half of the program, Jay welcomes in Newmark's managing director and head of multifamily capital markets research, Mike Wolfson. Mike shares his own thoughts on how 2025 played out versus expectations, then Jay and Mike discuss the capital markets environment going into 2026. What's driving the return of debt capital back into apartments, and what impact has that had on transactions? Deal flow increased moderately in 2025, but what would it take to get further acceleration in 2026? And where's all that distress we've been hearing is constantly on the horizon? Also, as always, Jay brings back recurring segments like "Rental Housing Trivia" and "In the News," where he shares a surprisingly insightful story from The Wall Street Journal, as well as another headline about the winddown of an apartment REIT that once ranked as the nation's largest apartment owner.
SummaryEP#63 Andrew Kadish | Green Shoots In Multifamily? Maybe.
Dec 1100:59:54Summary readyAre we seeing green shoots in the supply-drenched multifamily market? Rental housing economist Jay Parsons breaks down why the answer is "yes," while cautioning that a "green shoot" is just that — early signs of improved momentum, but not yet a rebound. He also notes that there's a long way to go, and the path to recovery could be choppy and uneven. Jay also reveals the one Sun Belt market seeing more green shoots than others right now, and what that could mean for other markets going forward. Later in the program, Jay welcomes in the CEO of CAPREIT, Andrew Kadish. Jay and Andrew discuss trends in affordable and market-rate housing across the East Coast, Mid-Atlantic and Midwest. Andrew also shares his take on how we can get more affordable housing available for those who need it. And Andrew also tells the story of how the company started by his father ended up with the same name as a Canadian REIT — setting up a lifetime of name confusion. And as always, Jay brings back recurring segments like "In the News" (where he talks about a big headline related to new fee transparency rules), "Rental Housing Trivia" and "New Digs."
SummaryEP#62 Toni Eubanks | How Greystar Sees Property Management
Dec 401:12:51Summary readyGreystar's incoming head of U.S. property management, Toni Eubanks, joins The Rent Roll with Jay Parsons to share her journey from leasing units on site to leading the nation's largest apartment manager with nearly 1 million units. Toni shares her take on how the property management business has evolved over the last few decades, and where it's headed from here. Toni also reveals some of her priorities and goals at Greystar as she steps into the expanded role on January 1. Additionally, Jay shares his take on the latest headlines impacting rental housing — including a CNBC headline declaring that vacancy has reached a "record high." Is that true? Jay also provides a hot take on why we could see the death of market surveys, which have been pervasive across the industry dating back prior to the digital era.
SummaryEP#61 Tyler Christiansen | A.I. And Rental Housing
Nov 2501:05:51Summary readyHow is AI impacting the rental housing business? Rental housing economist Jay Parsons cuts through the noise and the hype to look at the current state of AI in the multifamily and BTR industries, as well as the impact of AI on demand drivers like employment. Additionally, Jay welcomes Tyler Christiansen, the CEO of one of the nation's leading prop tech firms using AI, Funnel. Jay and Tyler discuss what's real and what's not, how to measure the impact of AI on NOI, and what the next advancements in AI could look like for property owners and managers. Additionally, in this week's "In the News" segment, Jay shares some big headlines impacting apartment and SFR operators — including an article challenging the perception of Gen Z'ers being more financially stretched compared to prior generations.
SummaryEP#60 Anne Olson | Overlooked Tertiary Markets
Nov 2000:56:28Summary readyRental housing economist Jay Parsons highlights smaller markets outpunching their weight class in fundamentals and in capital flow. It's easy to dismiss tertiary markets as volatile and less liquid, but that's not true across the board. Some markets are more attractive than others. To help inform the discussion, Jay welcomes in the CEO of Centerspace, Anne Olson, who runs the one public REIT that maintains a heavy presence in tertiary markets — while also expanding into larger MSAs. What are the pros and cons of investing in smaller markets? And why do investors (especially Wall Street) tend to undervalue even the tertiary markets where revenue growth has consistently outperformed? How do you balance the strength of low-supply, vibrant small markets with the appeal of more liquid large markets? Additionally, Jay brings back recurring features like "Rental Housing Trivia" and "In the News."
SummaryEP#59 Dave Feldman | 5 Takeaways From Q3 '25 SFR REIT Calls + A Conversation With Progress Residential's CEO
Nov 1301:03:42Summary readyRental housing economist Jay Parsons shares his top 5 takeaways from the single-family rental REITs' earnings calls — highlights from AMH and Invitation Homes. Jay shares the SFR REITs' take on the current state of the market, and whether they are seeing any signs of a slowdown in leasing. Another big topic: REIT stock prices versus net asset values, and what that widening gap means for the REITs. Jay also discusses the latest data combatting a major myth: The REITs aren't buying much off the MLS; in fact, they're selling a lot more than they're buying, while they continue to invest in new construction of build-to-rent single-family homes. Additionally, for this week's interview, Jay welcomes in the CEO of the nation's largest SFR owner, Dave Feldman of Progress Residential. Dave and Jay discuss myth-busting of SFR myths, the current state of the SFR market, and potential growth channels for Progress Residential. Also in this week's podcast, Jay shares his take on a topic he's asked about a lot — New York City's mayoral election and what it means for apartments — during the "In the News" segment, while also touching on other headlines.
SummaryEP#58 Haendel St. Juste | 5 Takeaways From Q3 '25 Apartment REIT Calls
Nov 601:16:06Summary readyRental housing economist Jay Parsons shares his Top 5 highlights from the apartment REITs' Q3 earnings calls. Are the REITs seeing a slow down? Are they seeing concerns around renter financial health? Why are REITs buying back their own stock, and what does that mean for acquisitions and development capital? And how are they thinking about 2026? Additionally, Mizuho managing director and senior REIT Analyst Haendel St. Juste joins the conversation to share his thoughts on apartment REITs, their outlook for 2026 and whether he expects to see more REITs taken private due to significant discounts to net asset value.
SummaryEP#57 Chris Finlay | Is It Time To Worry? Plus: A Conversation With Middleburg's CEO
Oct 3000:59:44Summary readyIs it time to worry about apartments and single-family rentals? We're hearing more talk about a possible recession — fueled by a softening labor market and a government shutdown. Rental housing economist Jay Parsons breaks down the latest data in the economy and in housing to find clues on the direction of the market. Jay shares his take on the various mixed signals, and offers up tips and strategies for preparing for the road ahead. Later in the program, Jay welcomes in Middleburg Communities founder and CEO Chris Finlay. Jay quizzes Chris on Middleburg's investment and development strategies for 2026 and beyond. Perhaps most impactfully, Chris and Jay talk about the non-profit organization Chris founded, Entryway, that helps people struggling with homelessness receive job training and employment opportunities within the apartment industry — and with impressive results. Furthermore, Jay tees up a particularly overlooked — but important — piece of history for Rental Housing Trivia. And, as usual, Jay breaks down the latest headlines touching on multifamily and SFR.
SummaryEP#56 Sue Ansel | Budgeting Season: Tips For 2026
Oct 2300:59:31Summary readyIt's that time of year: Budget season. Rental housing economist Jay Parsons offers up data, tips and ideas for how to think about revenue and expenses in 2026. We know supply will drop off, but will occupancy rates stabilize and concessions burn off? Will rents rebound? Will we continue to see high retention and steady renewal rent growth, or could some operators run into challenges with inverted rent rolls and gain-to-lease scenarios pushing down renewals? And what about operating expenses? Expense growth has (finally) cooled off materially of late, so will that continue into 2027? To further aid the discussion, Jay welcomes in Sue Ansel, the CEO of one of the nation's largest owner-manager-developers, Gables Residential. Sue shares her take on the year ahead for revenue and expenses, while offering up practical tips for thinking about operating budgets in 2026. Additionally, Jay brings back recurring features like "In the News" and "Rental Housing Trivia."
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