Jay Parsons — Multifamily economics beyond the rate cut

Rate cuts grabbed the headlines, but they aren’t the whole story. In this episode, Tyler Christiansen, CEO, Funnel sits down with economist Jay Parsons—also the host of The Rent Roll with Jay Parsons podcast—to dig into what really drives multifamily performance right now, and what managers and operators should watch.

They cover:

— Why a 25 bp cut doesn’t move the needle

— How supply peaks today set up a different market in 2026–2027

— The myth of home sales and rental demand (hint: strong for-sale markets often help rents)

— What rent control proposals really mean for affordability

— Fee transparency, “all-in” pricing, and the compliance burden operators are facing

— Why resident retention has been trending up for a decade

— The comeback (and risk) of concessions

If you enjoy conversations like this, you’ll love Forum, the premier event for multifamily executives who believe in a better operating model. Forum sells out every year. Registration is open. Secure your spot today. https://meet.funnelleasing.com/forum-2026-registration

Listen to Jay’s podcast, The Rent Roll: https://jayparsons.com/podcast/

Timestamps:

0:00 Jay Parsons — Multifamily economics beyond the rate cut

0:51 Episode introduction

1:38 Welcome Jay Parsons

2:42 What does the Fed rate cut mean for the multifamily industry?

4:26 What are the reasons to be optimistic about rent growth in multifamily?

5:39 Multifamily demand is good, but anything can happen

7:50 How does the for-sale market impact the rental housing industry?

9:09 The kicker is the hero, but not the key driver of the game

12:53 The myth about rent control

14:07 Don’t double down on what hasn’t worked

17:27 Use what is working across the country: supply

18:45 Supply vs. demand: Not that complicated

19:46 How is supply/demand impacting multifamily business?

21:02 Homebuilding ≠ apartment building

22:38 Homebuilders: Scarcity is your biggest enemy and your biggest asset

23:35 Fee transparency in multifamily

24:52 The rules for fee transparency are a moving target

27:13 Navigating the rules of the road in a multi-state business.

29:21 Compliance is important for all asset types, not just affordable

31:04 How can we lengthen the customer lifetime value in multifamily?

32:34 Apartment living is more attractive than it was

36:07 Technology + people have made multifamily better

36:51 What is going on with rental concessions in multifamily?

37:30 Be cautious when burning concessions

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