With earnings reports from major apartment REITs sharing a similar theme of higher-than-expected performance, the multifamily investment market could heat up in the second half of the year. Expectations for interest rates, however, are less-than-optimistic, with the Federal Reserve "grappling with uncertainty" as multifamily buyers and borrowers—some of whom are approaching distress—are challenged with higher financing costs.Sources discussed in this episode:Fortune: “There’s a ‘buyer’s strike’ on U.S. assets as foreign investors can’t stomach huge deficits anymore, analyst warn” - https://fortune.com/2025/05/24/debt-crisis-foreign-buyers-strike-us-assets-deficits-treasury-bonds-dollar-selloff/Colliers: “Value Growth Signals the Start of a New Investment Cycle” - https://knowledge-leader.colliers.com/aaron-jodka/quick-hits-value-growth-signals-the-start-of-a-new-investment-cycle/RealPage: “Strong Operational Performance in 1st Quarter REITs Earnings Calls” - https://www.realpage.com/analytics/reits-update-1st-quarter-2025/Apartment List: “2025 Millennial Homeownership Report” - https://www.apartmentlist.com/research/millennial-homeownership-2025NAHB: “Income Growth Helps Mute Existing Affordability Constraints” - https://eyeonhousing.org/2025/05/income-growth-helps-mute-existing-affordability-constraints/?_ga=2.182103335.1603973780.1748313471-811333322.1727831579RealPage: “Job Losses Persist in Bay Area and Midwest Markets” - https://www.realpage.com/analytics/april-2025-metro-employment-update/NAHB: “State-Level Employment Situation: April 2025” - https://eyeonhousing.org/2025/05/state-level-employment-situation-april-2025/?_ga=2.91309727.4229Download Gray Capital's latest report: https://www.graycapitalllc.com/midwest-report/Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
