Those who know me know I follow Yardi's monthly rent reports closely. Jeff Adler is one of the more knowledgeable trend watchers, not to mention being one of my favorite former bosses. His analysis is one of the better near-term barometers we have for where multifamily is headed. And the message from their most recent monthly update is pretty clear: we're looking at essentially flat year-over-year rent growth for the next twelve months. Not catas ...
I've spent a lot of time the past few weeks thinking about technology in general and proptech (really, restech) in particular. Those who know me know that I am not one prone to hype. In fact, my entire career has been spent being a bit of a contrarian…fighting against hype and leaning into my belief that multifamily rental housing is truly a "Goldilocks Zone" business—one in which you can hurt yourself by investing too little in tech but you can ...
I've been around long enough to watch entire technology cycles play out. From the early days of automated rent setting, through the BI revolution, through COVID-era leasing transformation and now into what everyone is calling "the AI era." And I'll be honest: the signal-to-noise ratio right now is the worst I've ever seen it."AI" has become a word that means everything and therefore means nothing. Talk to ten vendors at any industry confere ...
...and when forecasts are forced to be too high, it causes people to force things thus making bad decisions. It's not unlike a hockey team pulling their goalie late in the game--they might score a goal but they're more likely to give up one. But busi
We're past the budget cycle now. Spreadsheets have been blessed, NOI targets have been handed down and everyone is heads-down trying to execute. Which is exactly why this is the right moment to reflect on what just happened. Not to relitigate the numbers, but to ask an honest question: did we build a budget we can meet, or did we merely mollify key stakeholders with a story they wanted to be told?After 25+ years in this industry, building t ...
Over the past few months, the Department of Justice’s (DOJ) case against algorithmic pricing has slowly gained clarity. This progress moved forward last week with the announcement from the DOJ of a proposed settlement with Greystar that will likely serve as the model for other settlements. While an earlier settlement with Cortland provided initial clues, it included unique conditions that wasn’t sure to fully translate to the rest of the ...
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