What's Really Happening in Multifamily Right Now: Part 1

In this episode, Ernie Katai sits down with rental housing economist Jay Parsons to examine the multifamily market at the midpoint of 2026. Their conversation explores how the industry is navigating a period of transition—still dealing with supply pressure, renter-friendly conditions, and cautious sentiment—while also showing surprising resilience beneath the surface. Jay shares why strong demand and absorption suggest the worst may be behind the sector, why headlines often miss the nuance of what is really happening market by market, and what investors, operators, and owners should be watching as the year unfolds. Part 1 of a 2-Part conversation.