The Multifamily Dispatch

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss recent jobs/inflation data and the implications for the Federal Reserve and interest rates, and they review the latest reports on the multifamily investment market.0:00 - Introduction0:46 - Distress and Loan Maturities3:23 - Inflation Data: Jobs Report, CPI, and PPI18:02 - Multifamily Investor Sentiment22:26 - Apartment REIT Cap RatesSubscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this clip: GlobeSt: “Fed Divisions And Strong Jobs Cloud Rate Outlook” - https://www.globest.com/2026/06/08/fed-divisions-and-strong-jobs-cloud-rate-outlook/ Bureau of Labor Statistics: “Consumer Price Index, May 2026” https://www.bls.gov/news.release/cpi.nr0.htm John Burns Research and Consulting: “CRE capital markets are tightening” - https://jbrec.com/insights/cre-multifamily-capital-tightens-2q26/# GlobeSt: “Public Investors Push Coastal Multifamily Cap Rates Into The Sixes” - https://www.globest.com/2026/06/05/public-investors-push-coastal-multifamily-cap-rates-into-the-sixes/ Bureau of Labor Statistics: "The Employment Situation - May 2026" - https://www.bls.gov/news.release/empsit.nr0.htmNOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss new data on apartment fundamentals, a recent paper from Deloitte aiming to reinvent the apartment industry, signs of distress from multifamily owners, and regional trends in the housing market.<br>Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.<br>0:00 - Introduction0:58 - Distress and Loan Maturities6:42 - Apartment Data Update10:57 - Regional Home Price Trends14:10 - Chicago Federal Reserve Paper on Consumer Sentiment Data19:57 - Deloitte Reinvents the Apartment Market<br>Sources discussed in this clip:<br>Cushman & Wakefield: “Tipping the Balance Toward Sales Activity” - https://www.cushmanwakefield.com/en/united-states/insights/market-matters-exploring-real-estate-investment-conditions-and-trends <br>Apartment List: “May 2026 National Rent Report” - https://www.apartmentlist.com/research/national-rent-data <br>CoStar: “Apartments.com Releases Multifamily Rent Growth Report for May 2026” - https://www.costargroup.com/press-room/2026/apartmentscom-releases-multifamily-rent-growth-report-may-2026 <br>Yardi Matrix: “National Multifamily Report, May 2026” - https://www.yardimatrix.com/publications/download/file/8816-MatrixMultifamilyNationalReport-May2026 <br>RealPage: “U.S. Apartment Market Continues to Post Small but Consistent Gains” - https://www.realpage.com/analytics/may-2026-data-update/ <br>National Association of Home Builders: “House Price Appreciation by State and Metro Area in the First Quarter of 2026” - https://eyeonhousing.org/2026/06/house-price-appreciation-by-state-and-metro-area-in-the-first-quarter-of-2026/ <br>Cotality: “Home Price Insights, June 2026” - https://www.cotality.com/insights/articles/us-home-price-insights-june-2026 <br>Federal Reserve Bank of Chicago: “Reassessing the Relationship Between Consumer Sentiment and Spending with a New Composite Index” - https://www.chicagofed.org/publications/chicago-fed-letter/2026/521 <br>NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the most recent data on consumer sentiment, an update on multifamily capital markets, and a recent Federal Reserve paper on extend and pretend practices in commercial real estate lending.<br>Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.<br>Sources discussed in this clip:<br>The Conference Board: “US Consumer Confidence Edged Downward in May” - https://www.conference-board.org/topics/consumer-confidence/ <br>University of Michigan: “Consumer Sentiment, May 2026” - https://www.sca.isr.umich.edu/ <br>Newmark: “1Q26 U.S. Multifamily Capital Markets Conditions & Trends” - https://www.nmrk.com/insights/market-report/1q26-u-s-multifamily-capital-markets-conditions-trends <br>Colliers: “Q1 Capital Markets Report: U.S. Multifamily Enters a Rebalancing Phase” - https://www.colliers.com/en/research/dmc-nrep-uscm-usmf-colliers-capital-markets-multifamily-report-2026-q1 <br>Federal Reserve Board: “Pretend or Amend? On Evergreening in CRE” - https://www.federalreserve.gov/econres/feds/files/2026025pap.pdf <br>NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the recent rise in bond rates, and how higher lending costs could impact the multifamily investment market.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this clip:Pensford: "What Brings Rates Back Down?" - https://www.pensford.com/industry-news/what-brings-rates-back-downRealPage: “Interest Rates Reset the Rules for Multifamily Capital Markets” - https://www.realpage.com/analytics/webcast-capital-markets-may-2026/ Newmark: “1Q26 U.S. Multifamily Capital Markets Conditions & Trends” - https://www.nmrk.com/insights/market-report/1q26-u-s-multifamily-capital-markets-conditions-trends CRE Daily: CRE Lenders Move From Extensions to Foreclosures - https://www.credaily.com/briefs/cre-lenders-finally-cut-losses-on-distressed-debt/NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the latest CPI and PPI inflation data along with updates on housing costs, apartment supply, and CRE capital markets.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this clip:Bureau of Labor Statistics: “Consumer Price Index, April 2026” - https://www.bls.gov/news.release/cpi.nr0.htm Bureau of Labor Statistics: “Producer Price Index, April 2026” - https://www.bls.gov/news.release/ppi.nr0.htmZillow: "CPI Shelter Forecast, April 2026" - https://www.zillow.com/research/cpi-forecast-2026-apr-36302/Marcus & Millichap: Multifamily Outlook - https://www.marcusmillichap.com/research/research-brief/2026/05/research-brief-multifamily-outlook CoStar: “Multifamily Construction Activity Update for Q1 2026” - https://www.businesswire.com/news/home/20260512667993/en/Apartments.com-and-CoStar-Release-a-Multifamily-Construction-Activity-Update-for-Q1-2026 NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the latest updates on apartment rent growth, vacancy, and supply. Along with the data update, they comment on recent news about a potential merger of two of the biggest apartment owners, and they share their passionate takes on the topic of insurance for apartment real estate.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this clip:Bisnow: “Equity Residential, AvalonBay In Early Talks To Combine” - https://www.bisnow.com/national/news/multifamily/equity-residential-avalonbay-combine-134360 CoStar: “National rent growth remains positive in April, but spring season momentum remains restrained” - https://www.costargroup.com/press-room/2026/apartmentscom-releases-multifamily-rent-growth-report-april-2026 RealPage: “Small but Steady Gains Define the U.S. Apartment Market in 2026” - https://www.realpage.com/analytics/april-2026-data-update/ Yardi Matrix: “April 2026 Multifamily National Report” - https://www.yardimatrix.com/publications/download/file/8676-MatrixMultifamilyNationalReport-April2026 Apartment List: “National Rent Report” - https://www.apartmentlist.com/research/national-rent-data RealPage: “Multifamily Starts Increase in March [Note: not in the Midwest]” - https://www.realpage.com/analytics/us-permits-march-2026/ RealPage: “Elevated Concession Activity Persists Across U.S. Apartment Market [Note: not in the Midwest]” - https://www.realpage.com/analytics/us-concessions-march-2026/ Northmarq: “From premiums to policies: Understanding commercial property insurance trends in 2026” - https://www.northmarq.com/insights/research/premiums-policies-understanding-commercial-property-insurance-trends-2026 US Government Accountability Office: "Rental Housing: Institutional Investor Ownership of Single-Family Rental Homes" - https://www.gao.gov/assets/gao-26-108675.pdfNOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss recent data on apartment fundamentals, housing demand, CRE lending, and the potential shifts in the Federal Reserve in the wake of Jerome Powell's final FOMC meeting as Fed Chair.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this clip:Board of Governors of the Federal Reserve System: "Federal Reserve issues FOMC statement" - https://www.federalreserve.gov/newsevents/pressreleases/monetary20260429a.htmApartment List: “National Rent Report, April 2026” - https://www.apartmentlist.com/research/national-rent-data RealPage: “Quarterly Apartment Supply Hits Smallest Volume in Four Years” - https://www.realpage.com/analytics/us-supply-update-1q-2026/ Mortgage Bankers Association: “Delinquency Rates for Commercial Properties Increased in the First Quarter of 2026” - https://www.mba.org/news-and-research/newsroom/news/2026/04/27/delinquency-rates-for-commercial-properties-increased-in-the-first-quarter-of-2026 Realtor.com: “Homeownership Rates Are Falling for All Ages, Not Just Millennials” - https://www.realtor.com/news/trends/homeownership-rate-age-millennials-aei-study/ Apartment List: “Homeownership Is Declining, No Matter How You Measure It” - https://www.apartmentlist.com/research/homeownership-is-declining-no-matter-how-you-measure-it NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the specific advantages of multifamily investments during periods of volatility, highlighting the regional markets and specific types of apartment properties expected to deliver stable performance and growth. Also covered in this episode is the recent confirmation hearing of Kevin Warsh, the nominee chosen to replace Jerome Powell as chair of the Federal Reserve.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this clip:Marcus & Millichap: “Iran Conflict and CRE Outlook” - https://www.marcusmillichap.com/research/research-brief/2026/04/research-brief-iran-conflict-and-cre-outlookGlobeSt: "Multifamily Pricing Breaks From Longstanding Rent Cap Rate Relationship" - https://www.globest.com/2026/04/22/multifamily-pricing-breaks-from-longstanding-rent-cap-rate-relationship/NAHB: “Population Growth and Housing Supply Dynamics at the County Level in 2025” - https://eyeonhousing.org/2026/04/population-growth-and-housing-supply-dynamics-at-the-county-level-in-2025/ GlobeSt: "Class B Apartments Quietly Outperform in a Tiered Market" - https://www.globest.com/2026/04/20/class-b-apartments-quietly-outperform-in-a-tiered-market/Axios: “How Kevin Warsh wants to rewire Fed communications” - https://www.axios.com/2026/04/22/kevin-warsh-fed-communications-policy NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss multifamily transaction numbers, the broader economic issues driving the commercial real estate market, and recent CPI data showing a significant increase in inflation.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this clip:Northmarq: “Midwest multifamily transaction activity accelerates in 2025” - https://www.northmarq.com/insights/insights/midwest-multifamily-transaction-activity-accelerates-2025 Bureau of Labor Statistics: “Consumer Price Index, March 2020” - https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm Marcus & Millichap: "Research Brief: Inflation" https://www.marcusmillichap.com/research/research-brief/2026/04/research-brief-april-inflationCushman & Wakefield: "The Impacts of Tariffs on CRE Construction Costs" - https://www.cushmanwakefield.com/en/united-states/insights/the-impact-of-tariffs-on-cre-construction-costsColliers: “CRE at an inflection point” - https://www.colliers.com/en/research/cre-at-an-inflection-point NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the latest data on the apartment market, home prices, and mortgage rates as well as the key regional differences in the housing market as a whole.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this podcast:RealPage: “Apartment Demand Rebounds in 1st Quarter as Supply Volumes Continue to Slow” - https://www.realpage.com/analytics/1st-quarter-2026-data-update/ Apartment List: “March 2026 Rent Report” - https://www.apartmentlist.com/research/national-rent-data Apartments.com: “Multifamily Rent Growth Report for March 2026” - https://www.apartments.com/blog/apartments.com-national-rent-trends-report Yardi Matrix: “March 2026 National Multifamily Report” https://www.yardimatrix.com/publications/download/file/8535-MatrixMultifamilyNationalReport-March2026Realtor.com: “March 2026 Monthly Housing Report: Spring’s Promise Meets Fresh Headwinds” - https://www.realtor.com/research/march-2026-data/Berkadia: “March Payrolls Delivers Upside Suprise, Fed’s Holding Pattern Continues” - https://www.berkadia.com/blog/march-payrolls-delivers-upside-suprise-feds-holding-pattern-continues/ Federal Reserve Bank of Dallas: "Break-even employment declines as unauthorized immigration outflows continue" - https://www.dallasfed.org/research/economics/2026/0331Indeed Hiring Lab: "The Demographic Squeeze: "Why Labor Force Participation is Projected to Fall Through 2034" - https://www.hiringlab.org/2026/04/07/why-labor-force-participation-is-projected-to-fall-through-2034/NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the latest data on investor expectations, consumer sentiment, and the multifamily investment market.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this podcast:CBRE: “2026 Global Investor Intentions Survey” - https://mktgdocs.cbre.com/2299/3f4e94f5-4e66-472b-be45-24f17831c504-1084832404/2026_Global_Investor_Intention.pdf CBRE: “Potential Impact of Rising Oil Prices on Real Estate Values” - https://www.cbre.com/insights/briefs/potential-impact-of-rising-oil-prices-on-real-estate-values The Conference Board: “US Consumer Confidence Inched Up Again in March” - https://www.conference-board.org/topics/consumer-confidence/ University of Michigan: “Consumer Sentiment, March 2026” - https://www.sca.isr.umich.edu/ Urban Land Institute: “Is Stagflation Returning? Experts Weigh the Impact on Commercial Real Estate” - https://urbanland.uli.org/capital-markets-and-finance/stagflation-risk-is-secondary-to-a-growing-commercial-real-estate-margin Bisnow: “Data Center Transparency, Operating Concerns Raise Alarms In Ballooning CMBS Market” - https://www.bisnow.com/national/news/data-center-capital-markets/data-center-transparency-operating-concerns-raise-alarms-cmbs-market-133865 NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss the current state of the lending markets, the Federal Reserve, and how migration and population growth are impacting housing demand in America.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this podcast:Bisnow: “Fannie, Freddie Stocks Free-Fall As Privatization Plans Remain Unclear” - https://www.bisnow.com/national/news/affordable-housing/fannie-freddie-stocks-free-fall-as-plans-for-privatization-dim-133735 GlobeSt: “Private Credit's Pullback Could Reignite CRE Investment Cycle” - https://www.globest.com/2026/03/23/private-credits-pullback-could-reignite-cre-investment-cycle/ The Wall Street Journal: “The Fed’s Most Awkward Leadership Transition Is Coming” - https://archive.is/qUgoA#selection-549.0-552.0 The Atlantic: “The Revenge of Flyover Country” - https://archive.ph/q8XBN RealPage: “Historic Decline in Net International Migration Slows U.S. Population Growth” - https://www.realpage.com/analytics/population-decline-2025/ NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) discuss how current economic volatility may impact the apartment market, they look at recent inflation numbers and what they might indicate about future interest rate trends, and they review the recent (excellent) report on the current state of America's rental market.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this podcast:Bisnow: “Why The Iran Conflict's Impact On U.S. Real Estate Hinges On When It Ends” - https://www.bisnow.com/national/news/capital-markets/iran-conflict-raises-specter-of-resurgent-inflation-but-a-short-war-could-spare-cre-133657 Trepp: “Balance Sheet CRE Lending Spreads Show Little Response to Oil Price Shock” - https://www.trepp.com/trepptalk/balance-sheet-lending-spreads-show-little-response-to-oil-price-shock Bureau of Labor Statistics: “Consumer Price Index, February 2026” - https://www.bls.gov/news.release/cpi.nr0.htm Bureau of Economic Analysis: “Personal Consumption Index, January 2026” - https://www.bea.gov/news/2026/personal-income-and-outlays-january-2026 Harvard Joint Center for Housing Studies: “America’s Rental Housing” - https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_Americas_Rental_Housing_2026.pdf NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.

This week, hosts Dan Gable (CEO, J+G Companies) and Matt Bastnagel (Director of Research and Marketing) review the current state of the multifamily investment market, including a look at the sentiment among investors, financial market trends, and apartment fundamentals.Subscribe to our weekly newsletter at TheMultifamilyDispatch.com.Sources discussed in this podcast:Yardi Matrix: “Multifamily National Report, February 2026” - https://www.yardimatrix.com/publications/download/file/8517-MatrixMultifamilyNationalReport-February2026 Apartment List: “National Rent Report, February 2026” - https://www.apartmentlist.com/research/national-rent-data RealPage: “U.S. Apartment Occupancy and Rents Inch Up Again in February” - https://www.realpage.com/analytics/february-2026-data-update/ CoStar: “National rent growth remained positive but uneven in February following a December inflection” - https://www.costargroup.com/press-room/2026/apartmentscom-releases-multifamily-rent-growth-report-february-2026CBRE: “Core Multifamily Buyer Sentiment Improves in Q4 2025” - https://www.cbre.com/insights/briefs/core-multifamily-buyer-sentiment-improves-in-q4-2025Northmarq: “Commercial real estate debt market outlook 2026: Capital available but lending remains selective” - https://www.northmarq.com/insights/research/commercial-real-estate-debt-market-outlook-2026-capital-available-lending-remains CRED iQ: “Special Servicing Rate Reaches 11.1%, Second-Highest Level Since GFC” - https://cred-iq.com/blog/2026/03/06/special-servicing-rate-reaches-11-1-second-highest-level-since-gfc/ Berkadia: “2026 Multifamily Investor Sentiment Survey” - https://www.berkadia.com/wp-content/uploads/2026/02/Berkadia-2026-Multifamily-Investor-Survey.pdf CRE Daily / John Burns Research and Consulting: “Q1 2026 Fear and Greed Survey” - https://www.credaily.com/fear-greed-index/ Cotality: “US home price insights — March 2026” - https://www.cotality.com/insights/articles/us-home-price-insights-march-2026 NOTE: This podcast is for informational/educational purposes only. This is not an offer to invest.