EP#91 Matt DeGraw | When Will Rents Recover? "It Depends..."

When will the apartment market rebound from the highest supply wave since the 1970s? When will rents recover and concessions burn off and occupancy rates stabilize. In search of an answer, rental housing economist Jay Parsons makes the case for the most oft-dismissed trope in economics: "It depends." In defense of "it depends," Jay shares real data highlighting the how the recovery pace varies dramatically even with the same metro area — and all the variables that can shape the pace of the rebound. In addition, in this week's "In the News" segment, Jay shares the latest intel on the ROAD to Housing Act and also talks about New York City's edict for a two-year rent freeze on rent stabilized apartments, and why the rent stabilized apartment market is becoming increasingly less liquid. As if more evidence needed, Jay discusses news of Google co-founder Sergey Brin selling his stake in a rent stabilized apartment fund for just six cents on the dollar. Furthermore, Jay shares how major new research on the Low Income Housing Tax Credit program proves LIHTC is far more affordable — and reaching far more low-income renters — than its critics want to admit. Later in the program, Jay interviews Bridge Property Management CEO Matt DeGraw. Bridge ranks among the nation's top 20 largest apartment owners. Matt and Jay talk about the apartment market's recovery, leasing trends, and differences between conventional and affordable housing.