S2 EP 7: Multifamily Market Meltdown or Opportunity? 2024 Insights with Ryan Smyth

Multifamily Market Meltdown or Opportunity? 2024 Insights with Ryan Smyth

Ryan Smyth is back for his second appearance on Stash Cast—and he’s bringing sharp insights on the current real estate market, investment strategies, and what lies ahead. In this episode, we dig into the seismic shifts in multifamily real estate, from investor behavior and underwriting discipline to how the Trump administration's proposed tariffs and economic policies could impact new developments and valuations.

📉 Key Takeaways: Transaction volume remains muted with a massive market disconnect between buyer expectations and seller realities.

Investors are increasingly focused on newer core-plus assets (2000s+), pivoting away from older 70s–80s vintage deals due to high capital expenditure and underwhelming returns.

The Midwest continues to outperform due to less overbuilding and stable fundamentals, while Sunbelt markets face absorption challenges from oversupply.

Long-term holds (7–10 years) are now key to unlocking returns, with short-term deals suffering from delayed rent growth and economic uncertainty.

Infrastructure, political stability, and onshoring policies will play a growing role in shaping investment opportunities through 2026 and beyond.

🗺️ Market Spotlight: Southeast and Southwest = construction oversupply & stagnation. Midwest = predictability, lower competition, stable growth.

💬 Also discussed: How tariffs could reshape new construction and U.S. manufacturing. What top brokers do differently to earn repeat business. Real talk on taking losses, holding patterns, and preparing for price discovery.

📊 If you're a multifamily investor, broker, or just love diving into market data—this is a must-listen.

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit thestashcast.substack.com/subscribe