Today, we are joined by Jay Parsons, who serves as the Senior VP and Chief Economist for RealPage. He's a frequent author and sought-after speaker on topics related to multifamily apartments and single-family rentals and has been cited in the Wall Street Journal, Bloomberg, the Financial Times, and the New York Times. In this episode of the Real Estate Investor Podcast, Jay offers his insights into market trends and consumer behavior as we discuss the US housing market shortage, nationwide rent growth, his predictions regarding interest rates in 2023 and 2024, the differences between true affordable housing and naturally occurring affordable housing, and more. For key metrics to watch and a better understanding of how technology can help you drive down costs, plus so much more, be sure to tune in today!
Key Points From This Episode:
- Jay’s take on the US housing market, which he thinks is short more than five million units.
- Why he doesn’t like the term overbuilding and what he views as the real challenge with supply.
- Rent growth in Arizona, Texas, Florida, the Midwest, and more.
- Jay’s belief that you can find success in any market with the right strategy.
- His predictions regarding interest rates for the remainder of 2023 going into 2024.
- What it means to be a “homeownership-centric society.”
- Why Jay is a supporter of what he calls targeted rent control.
- True affordable housing versus naturally occurring affordable housing (NOAH).
- Data points that Jay has been focused on and surprised by recently.
- Ways to boost ancillary revenue while also driving down expenses.
- Why Jay doesn’t believe that values will depreciate in the near future.
Links Mentioned in Today’s Episode:
Jay Parsons on LinkedIn
Jay Parsons on Twitter
Asset Management Mastery Facebook Group
Break of Day Capital
Break of Day Capital Instagram
Break of Day Capital YouTube
Gary Lipsky on LinkedIn
Joseph Fang on LinkedIn