# ![@jayparsons Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::16193228.png) @jayparsons Jay Parsons

Jay Parsons posts on X about reit, investment, market, sun the most. They currently have [------] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours.

### Engagements: [-----] [#](/creator/twitter::16193228/interactions)
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### Mentions: [--] [#](/creator/twitter::16193228/posts_active)
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### Followers: [------] [#](/creator/twitter::16193228/followers)
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- [--] Week [------] +0.19%
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### CreatorRank: [-------] [#](/creator/twitter::16193228/influencer_rank)
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### Social Influence

**Social category influence**
[finance](/list/finance)  38.32% [stocks](/list/stocks)  5.61% [financial services](/list/financial-services)  3.74% [countries](/list/countries)  1.87% [travel destinations](/list/travel-destinations)  1.87% [currencies](/list/currencies)  0.93% [musicians](/list/musicians)  0.93%

**Social topic influence**
[reit](/topic/reit) #13, [investment](/topic/investment) 7.48%, [market](/topic/market) #561, [sun](/topic/sun) 4.67%, [belt](/topic/belt) #655, [ceo](/topic/ceo) 4.67%, [strong](/topic/strong) 4.67%, [california](/topic/california) 3.74%, [inflation](/topic/inflation) 3.74%, [the most](/topic/the-most) 3.74%

**Top accounts mentioned or mentioned by**
[@joeybaum13](/creator/undefined) [@parachutej66186](/creator/undefined) [@barryroland19](/creator/undefined) [@wsj](/creator/undefined) [@caryko](/creator/undefined) [@valubull28](/creator/undefined) [@estatebets1135](/creator/undefined) [@getrealai](/creator/undefined) [@stevemiran](/creator/undefined) [@joestampone](/creator/undefined) [@jasoncnc](/creator/undefined) [@gianniparente](/creator/undefined) [@jphilbeck](/creator/undefined) [@donn1nger](/creator/undefined) [@tobymac](/creator/undefined) [@catvielma](/creator/undefined) [@gianni_parente](/creator/undefined) [@realestatedude0](/creator/undefined) [@yenoms](/creator/undefined) [@puneesh](/creator/undefined)

**Top assets mentioned**
[Equity Residential (EQR)](/topic/equity-residential) [BlackRock Inc (BLK)](/topic/blackrock)
### Top Social Posts
Top posts by engagements in the last [--] hours

"Be leery of those who try to argue: "We don't need more market-rate housing just low-income housing." Housing is not a zero-sum game. If we force developers to build low-income housing less housing gets built b/c those deals won't work without massive subsidies. And if less housing gets built that worsens affordability for a larger share of the population. In a low-supply environment higher-income households end up living in units that would otherwise go to lower-income families. That's a bad outcome. We DO need to get more low-income housing built. But chasing supply-killing policies like"  
[X Link](https://x.com/jayparsons/status/2021319313139900747)  2026-02-10T20:24Z 30.1K followers, [----] engagements


"MAA (largest apartment REIT by unit count with 105k units concentrated in Sun Belt) had earnings call last week. Some highlights: 1) "The recovery in fundamentals is under way" with incremental improvement in occupancy and rent"  
[X Link](https://x.com/jayparsons/status/2021657591102026081)  2026-02-11T18:48Z 30.1K followers, 11K engagements


"Following Camden's announced exit from Southern California the CEO of another major apartment REIT -- Equity Residential (Sam Zell's former shop) -- said L.A. gives him "continuing anxiety" due to economic and regulatory issues. Equity sold one L.A. property partly because "those regulatory conditions in that market are really hard" and it sounds like he wants to sell more. Interestingly he spoke of L.A.'s upside (Olympics World Cup etc.) as opportunities not to invest more in L.A. but to sell more there. Commentary below comes from EQR's earnings call last week."  
[X Link](https://x.com/jayparsons/status/2022056236275917243)  2026-02-12T21:12Z 30.1K followers, [----] engagements


"CPI rent inflation continues to cool as expected with that long slow ride down the mountain (made slower by lagged methodology). Now 2.8% lowest since COVID era and also [--] bps below the long-term average"  
[X Link](https://x.com/jayparsons/status/2022341639398891674)  2026-02-13T16:06Z 30.1K followers, [----] engagements


"Apartment REIT stocks are trading at implied cap rates in the 6s according to BofA's Jana Galan. Meanwhile REIT-quality apartments in the private market are trading at cap rates ranging from mid-4s to low 5s. Why are apartment REIT stocks trading at prices well below the value of the apartment properties they own (net asset value) Bank of America's Jana Galan says: "REITs are equities and investors want to see growth." That growth hasn't been there largely due to the massive wave https://t.co/V0PwMF59tZ Why are apartment REIT stocks trading at prices well below the value of the apartment"  
[X Link](https://x.com/jayparsons/status/2022356305571385481)  2026-02-13T17:04Z 30.1K followers, 28.1K engagements


"Camden (apartment REIT with 59k units in Sun Belt SoCal DC) had earnings call recently. Some good color as always. Highlights: 1) Uncertainty remained the theme but Camden is banking on Sun Belt outperforming again as supply pressures drop from record peaks to below-average"  
[X Link](https://x.com/jayparsons/status/2022376918079734119)  2026-02-13T18:26Z 30.1K followers, [----] engagements


"2) Like others Camden says its renters remain in strong financial shape -- paying only 19% of income toward rent with average incomes of $121k. But low consumer confidence still has an impact"  
[X Link](https://x.com/jayparsons/status/2022377290915614889)  2026-02-13T18:28Z 30.1K followers, [----] engagements


"Here's a running thread of threads for Q3'25 earnings call recaps among the apartment and SFR REITs.🧵"  
[X Link](https://x.com/jayparsons/status/1986133772480188784)  2025-11-05T18:09Z 30.1K followers, 22.2K engagements


"Pulte (the homebuilder not the FHFA director) CEO Ryan Marshall said this back in [----] when they announced a partnership with Invitation Homes: "We think that this partnership will give us access to larger land parcels and allow us to build everything that we normally would have built for sale and then incrementally do some rental units as well. Certainly I think there will be some projects where it becomes a little fungible and some of the units will come out of what historically would have been our for-sale portfolio." So while saying "some" units could come from for-sale portfolio he's"  
[X Link](https://x.com/jayparsons/status/2009367184707878966)  2026-01-08T20:50Z 30.1K followers, [----] engagements


"Fun fact: The nation's largest owner of single-family homes owns 0.1% of the market. And no it's not BlackRock or Blackstone"  
[X Link](https://x.com/jayparsons/status/2009731719763767655)  2026-01-09T20:59Z 30.1K followers, 44.4K engagements


"Good read from Lance on Invitation Homes (SFR REIT) moving into the ground-up development business. Includes a lot of important context and nuance. Understanding institutional landlord Invitation Homes new housing market bet Invitation Homeswhich wholly owns [-----] single-family rentalsannounced Thursday it is acquiring build-to-rent developer ResiBuilt. Why that matters My latest for ResiClub: https://t.co/6x1AVm5vzI https://t.co/0a6tMM3ocI Understanding institutional landlord Invitation Homes new housing market bet Invitation Homeswhich wholly owns [-----] single-family rentalsannounced"  
[X Link](https://x.com/jayparsons/status/2013688661246685319)  2026-01-20T19:02Z 30.1K followers, 12.8K engagements


"Wonky topic that hasn't gotten much attention outside the CRE world but banks are playing a dwindling direct role in the $2.2T multifamily debt market (primarily for regulatory reasons) and giving way to the rise of debt funds (which ironically large banks help fund). Benefit Street Partners' Michael Comparato makes the case for why banks are playing a decreasing role in the multifamily debt market and how the rise of debt funds marks a structural shift (not a cyclical fad). https://t.co/xIi9RMfmdr Benefit Street Partners' Michael Comparato makes the case for why banks are playing a"  
[X Link](https://x.com/jayparsons/status/2017252974603514252)  2026-01-30T15:06Z 30.1K followers, [----] engagements


"Narrative buster: The share of U.S. single-family homes occupied by renters is at 15+ year LOWS according to Redfin. And yet both sides of the aisle want you to believe institutional investors are the boogeyman turning America into a renter nation. 🙄 Facts Narratives"  
[X Link](https://x.com/jayparsons/status/2018726718169633090)  2026-02-03T16:42Z 30.1K followers, 17K engagements


"@SteveMiran 100%. And the mechanics of CPI Shelter make its path easy to predict. It would take a major shock to reverse continued cooling in shelter inflation this year"  
[X Link](https://x.com/jayparsons/status/2019528371160641740)  2026-02-05T21:47Z 30.1K followers, [---] engagements


"@Joe_Stampone I agree with that"  
[X Link](https://x.com/jayparsons/status/2019952958482379080)  2026-02-07T01:54Z 30.1K followers, [--] engagements


"When I first heard AvalonBay sold an apartment deal in San Francisco for a low 5s cap rate I didn't think much of it. Then I read this from their earnings call: It's 50+ years old subject to city rent control AND needs heavy CapEx. So . low 5s is pretty remarkable. Another signs that San Francisco is a hot market again. https://twitter.com/i/web/status/2020964822335004742 https://twitter.com/i/web/status/2020964822335004742"  
[X Link](https://x.com/jayparsons/status/2020964822335004742)  2026-02-09T20:55Z 30.1K followers, 15.1K engagements


"@BarryRoland19 Agreed on LTL but also of course turnover rate and depth of capex issues as well. (I have no idea on any of those specifics.)"  
[X Link](https://x.com/jayparsons/status/2020980604033171803)  2026-02-09T21:58Z 30.1K followers, [---] engagements


"Free market advocates in Congress reportedly are blocking proposed investor ban from being added onto pro-supply housing legislation. Good report from @WSJ"  
[X Link](https://x.com/jayparsons/status/2020994663931412780)  2026-02-09T22:54Z 30.1K followers, [----] engagements


"Link https://www.wsj.com/politics/policy/proposed-ban-on-investors-in-the-housing-market-hits-a-wall-in-congress-6be38cb7st=uwu5rn&reflink=article_email_share https://www.wsj.com/politics/policy/proposed-ban-on-investors-in-the-housing-market-hits-a-wall-in-congress-6be38cb7st=uwu5rn&reflink=article_email_share"  
[X Link](https://x.com/jayparsons/status/2020997285824418146)  2026-02-09T23:04Z 30.1K followers, [----] engagements


"Rep. Green focuses on targeting/eliminating discrimination by mortgage lenders"  
[X Link](https://x.com/jayparsons/status/2021259069688869280)  2026-02-10T16:24Z 30.1K followers, [---] engagements


"Rep. Barr focuses on community bank reform to make it easier for them to lend. Brian Brooks calls it the most important legislation under consideration related to housing affordability"  
[X Link](https://x.com/jayparsons/status/2021259837774934413)  2026-02-10T16:27Z 30.1K followers, [---] engagements


"@caryko they maybe haven't gotten a good ROI on that investment over the last [--] years"  
[X Link](https://x.com/jayparsons/status/2021269090959003995)  2026-02-10T17:04Z 30.1K followers, [--] engagements


"@jasonc_nc and the irony: bemoaning lack of affordable for-sale housing then complaining about the rental alternatives that provide far more affordable alternatives to people needing housing"  
[X Link](https://x.com/jayparsons/status/2021344042869719224)  2026-02-10T22:02Z 30.1K followers, [---] engagements


"Revisionist history to blame investors for "lost home equity" in 2010s rather than the Great Financial Crisis that resulted in millions of homeowners losing their homes to foreclosure. Meanwhile studies like the below are referenced (specific to Atlanta) saying heavy investor purchases led to the loss of $4.9 billion in home equity. Except the study requires a sun-sized asterisk. A significant decline from [----] (near peak after years of 1st time homeowners https://t.co/rifxidSZ58 Meanwhile studies like the below are referenced (specific to Atlanta) saying heavy investor purchases led to the"  
[X Link](https://x.com/jayparsons/status/2021361837326184780)  2026-02-10T23:13Z 30.1K followers, [----] engagements


"12) While some REITs are buying back their stock due to big discounts in stock price versus net asset value MAA said they'd rather invest capital into newer assets"  
[X Link](https://x.com/jayparsons/status/2021657615378637055)  2026-02-11T18:48Z 30.1K followers, [----] engagements


"As always this is NOT investment advice of any sort. Just [--] things I found interesting from MAA's Q4'25 earnings call last week"  
[X Link](https://x.com/jayparsons/status/2021657617358258200)  2026-02-11T18:48Z 30.1K followers, [----] engagements


"2) The problem for new development is not construction costs which have been trending down industry-wide despite tariff fears. The bigger challenge is rents have cooled offsetting any savings in construction cost in some cases"  
[X Link](https://x.com/jayparsons/status/2021710764814279131)  2026-02-11T22:19Z 30.1K followers, [----] engagements


"5) Like another industry-wide trend (albeit one that broader narratives haven't caught up to yet) AvalonBay reported very heathy renter financials --including rent-to-income ratios now below pre-COVID levels -- as wage growth has outpaced rent growth"  
[X Link](https://x.com/jayparsons/status/2021710772926042208)  2026-02-11T22:19Z 30.1K followers, [---] engagements


"6) AvalonBay reported continued strength in New York City as did others with presence there. Still seeing softness in Boston which has been hit by job losses and research cutbacks at major universities in the area"  
[X Link](https://x.com/jayparsons/status/2021710775279120586)  2026-02-11T22:19Z 30.1K followers, [---] engagements


"9) On San Francisco some good color on the sales transaction market. AVB sold a deal in the city at a 5.1% cap rate. On the surface that's an unsurprising number until you dig in. and note it's a 50+ year old property with heavy capex needs and it's rent controlled. Clearly San Francisco is a hot market again among investors for a deal like to trade in the low 5s"  
[X Link](https://x.com/jayparsons/status/2021710783764365791)  2026-02-11T22:19Z 30.1K followers, [---] engagements


"10) Scanning other markets: AVB expecting modest growth across Southern California and South Florida. Denver remains challenged to high supply and no job growth"  
[X Link](https://x.com/jayparsons/status/2021710786301719032)  2026-02-11T22:19Z 30.1K followers, [---] engagements


"13) One theme we've heard a lot is expectations for the second half of [----] to be stronger than the first half. AVB offered up some pretty detailed color outlining how that could play out"  
[X Link](https://x.com/jayparsons/status/2021710794883244360)  2026-02-11T22:19Z 30.1K followers, [---] engagements


"14) On the expense side operating expense growth has normalized across the industry but could still exceed revenue growth in 2026"  
[X Link](https://x.com/jayparsons/status/2021710797907640360)  2026-02-11T22:19Z 30.1K followers, [---] engagements


"15) AVB's chief investment officer shared some good color on the transaction market and availability of debt. Noted that there's a lot of buyer demand for better-quality assets"  
[X Link](https://x.com/jayparsons/status/2021710800809754737)  2026-02-11T22:19Z 30.1K followers, [----] engagements


"As always this is NOT investment advice of any kind. Just [--] things I found interesting from AvalonBay's Q4 [----] earnings call"  
[X Link](https://x.com/jayparsons/status/2021710803745841524)  2026-02-11T22:19Z 30.1K followers, [----] engagements


"2) Also like others EQR said their renters are in strong financial shape. Not seeing challenges associated with layoffs"  
[X Link](https://x.com/jayparsons/status/2022087608055238811)  2026-02-12T23:17Z 30.1K followers, [---] engagements


"@joeybaum13 i'm sure they are. but the tone on san francisco has always been a bit different. reits were frustrated by what they call "quality of life" issues up until last year but you didn't hear quite the same frustrations around political climinate and regulations"  
[X Link](https://x.com/jayparsons/status/2022344078789390802)  2026-02-13T16:16Z 30.1K followers, [--] engagements


"@joeybaum13 not that san francisco is easy by any means but relatively speaking i'd guess all of them would rather deal with SF than LA"  
[X Link](https://x.com/jayparsons/status/2022344230677729616)  2026-02-13T16:16Z 30.1K followers, [--] engagements


"10) A big reason construction starts are down is because new projects aren't penciling out. Camden feeling same for projects they consider starting. The problem isn't construction costs (down 5-8%) but rents. Said they could start a couple this year but need rent growth to return -- and want to see that actually happen ("un-trended") rather than assume it will ("trended") before they start a project"  
[X Link](https://x.com/jayparsons/status/2022381006116782517)  2026-02-13T18:43Z 30.1K followers, [---] engagements


"11) Camden sold four properties in Q4 (3 in Houston [--] in Phoenix) and bought one in Orlando. Continuing to recycle capital from older properties into newer ones (though for REITs it's become harder to buy when stock trading well below apartment acquisition prices.)"  
[X Link](https://x.com/jayparsons/status/2022381544208585021)  2026-02-13T18:45Z 30.1K followers, [---] engagements


"To clear up confusion: "Institutional" investors represent 3% of single-family RENTALS but closer to 0.5% of ALL single-family homes. And you can't just assume that 0.5% shifts to individual homebuyers b/c small investors (exempt from ban) could take much of that share. Additionally many of the homes bought by investors (of all sizes) need massive repair work -- which discourages a typical homebuyer who would then need more cash to pay for major repairs. Investors (especially institutional SFR operators) tend to favor those types of deals under-valued by the market b/c they can usually do"  
[X Link](https://x.com/jayparsons/status/2009030018442408122)  2026-01-07T22:30Z 30.1K followers, 56.9K engagements


"Apartment rents are still flat or negative in most U.S. markets BUT is momentum starting to shift Of the [--] largest markets [--] saw improvement in year-over-year rent change in Jan'26 versus the low point of [----]. That includes not only hot markets like San Francisco and New York but also most of the higher-supplied markets too -- including Atlanta Jacksonville Denver Orlando Phoenix and Dallas. In those Sun Belt/Mountain markets rents are still falling but to lesser degrees than previously. So if that sticks it would suggest the deepest rent cuts occurred in [----]. Not expecting an imminent"  
[X Link](https://x.com/jayparsons/status/2020889132826804457)  2026-02-09T15:54Z 30.1K followers, [----] engagements


"Where did we add the most apartments over the past five years This chart shows us the fastest-growing submarkets in terms of net units added and the expansion rate. Some highlights: 1) Two submarkets expanded by 2x since 2021: Brunswick Co. (Wilmington NC) and Avondale/Goodyear (Phoenix). 2) Brooklyn led the nation in total units added and yet that amounted to 1/2 the U.S. average expansion rate. It just means Brooklyn is huge and reminds us the expansion rate matters more than total numbers. 3) Expanding 70%: East Austin West Huntsville (Huntsville AL) Burleson (Fort Worth) Pinal Co."  
[X Link](https://x.com/jayparsons/status/2021230961279529033)  2026-02-10T14:33Z 30.1K followers, 25.9K engagements


"Listening to House Financial Services committee hearing: "Priced Out of the American Dream" going on right now. Opening statements include mostly boilerplate material on affordability/politics not much about investor impact on home prices"  
[X Link](https://x.com/jayparsons/status/2021243145413898746)  2026-02-10T15:21Z 30.1K followers, 10.3K engagements


"First witness is Brian Brooks (CEO Meridian Capital Group) who is noting correlation between cities with rent control having higher rents (among other things) as well as regulatory challenges for community banks"  
[X Link](https://x.com/jayparsons/status/2021244772090802203)  2026-02-10T15:28Z 30.1K followers, [---] engagements


"AvalonBay (largest apartment REIT by market cap with coast-to-coast presence) had its Q4 earnings call last week. Some highlights: 1) After ramping up construction last year AVB is scaling back starts by 50% in [----] with [--] starts planned. Tough for projects to pencil. That said [--] is still a lot more than AVB's peers with possible exception of MAA. https://twitter.com/i/web/status/2021710762373194012 https://twitter.com/i/web/status/2021710762373194012"  
[X Link](https://x.com/jayparsons/status/2021710762373194012)  2026-02-11T22:19Z 30.1K followers, [----] engagements


"Here's a running thread recapping Q4 [----] earnings call highlights for the apartment and SFR REITs. Will be adding to this as I get to them. 🧵"  
[X Link](https://x.com/jayparsons/status/2022046511157453289)  2026-02-12T20:33Z 30.1K followers, [----] engagements


"I included more on EQR as well as Camden's reasons for exiting SoCal in my newsletter today. https://jayparsons.beehiiv.com/p/11-takeaways-from-apartment-reits-q4-25-earnings-calls https://jayparsons.beehiiv.com/p/11-takeaways-from-apartment-reits-q4-25-earnings-calls"  
[X Link](https://x.com/jayparsons/status/2022056744655126896)  2026-02-12T21:14Z 30.1K followers, [----] engagements


"Here is the other part of the L.A. commentary from EQR's CEO. He is saying EQR is underwriting a higher cost for buying AND developing in California to account for litigation and regulatory risk. Who do you think pays for higher cost of development in the long run"  
[X Link](https://x.com/jayparsons/status/2022059283068993877)  2026-02-12T21:24Z 30.1K followers, [----] engagements


"Equity Residential (coast-to-coast apartment REIT with 79k units) had its earnings call recently. Some good color on the market. Highlights: 1) Like its peers EQR reported leasing and rent momentum over the winter months. "We're dialing back concessions right now.""  
[X Link](https://x.com/jayparsons/status/2022087605211578535)  2026-02-12T23:17Z 30.1K followers, [----] engagements


"3) However EQR acknowledged heightened economic uncertainty has impacted leasing demand. That led to EQR issuing a wide range for [----] guidance -- with the outcome dependent on job market"  
[X Link](https://x.com/jayparsons/status/2022087991230132602)  2026-02-12T23:18Z 30.1K followers, [---] engagements


"4) EQR said "policy and geopolitical uncertainty" impacted the market in the second half of [----] weakening fundamentals even in low-supplied Coastal markets (with exception of NYC and San Francisco)"  
[X Link](https://x.com/jayparsons/status/2022088183937479057)  2026-02-12T23:19Z 30.1K followers, [---] engagements


"6) EQR CEO Mark Parrell said he has "continuing anxiety" over L.A. in particular due to economic and regulatory headwinds. Following Camden's decision to exit SoCal Parrell suggested EQR will look to sell more L.A. properties once buyer demand and pricing improve. He said he was hopeful for L.A.'s future with the Olympics coming to town but that such a rebound would trigger EQR to sell opportunistically. https://x.com/jayparsons/status/2022056236275917243 https://x.com/jayparsons/status/2022056236275917243"  
[X Link](https://x.com/jayparsons/status/2022088378863309043)  2026-02-12T23:20Z 30.1K followers, [---] engagements


"7) On the flip side EQR (like others) reported strength in two previously beat-up markets: NYC and San Francisco"  
[X Link](https://x.com/jayparsons/status/2022088470085480721)  2026-02-12T23:20Z 30.1K followers, [---] engagements


"8) In Washington DC EQR said the second half of [----] was much weaker than the first half due to DOGE cuts and the federal shutdown. However with that behind them and supply dropping EQR says DC has upside"  
[X Link](https://x.com/jayparsons/status/2022088525521543177)  2026-02-12T23:20Z 30.1K followers, [---] engagements


"9) In EQR's growing Sun Belt footprint EQR is like its peers wrestling with high levels of new supply competition putting downward pressure on rents. Not surprisingly: EQR called Atlanta its strongest expansion market and Denver its weakest"  
[X Link](https://x.com/jayparsons/status/2022088599416811922)  2026-02-12T23:21Z 30.1K followers, [---] engagements


"10) More broadly back to uncertainty: EQR suggested the upside to economic uncertainty (combined with strong management) is a higher propensity to renew leases. Also move-outs to home purchase hit a record low. (Remember: Renters still have plenty of alternative options for renting though even if not buying so renewals aren't a given.) https://twitter.com/i/web/status/2022088662037528958 https://twitter.com/i/web/status/2022088662037528958"  
[X Link](https://x.com/jayparsons/status/2022088662037528958)  2026-02-12T23:21Z 30.1K followers, [---] engagements


"11) With all apartment REITs seeing their stock trading at prices well below net asset value (NAV) EQR was among the REITs taking an aggressive view on opportunities to buy back their own stock"  
[X Link](https://x.com/jayparsons/status/2022088724025422252)  2026-02-12T23:21Z 30.1K followers, [---] engagements


"12) The "other side of the coin" for a REIT priced well below its NAV: "The cost of capital for REITs is more challenging" a 180-turn from what REITs were saying a year ago. That means its less accretive to acquire properties at market prices (mid 4s to low 5s cap rates) when your company's implied cap rate is much lower. https://twitter.com/i/web/status/2022088781474705442 https://twitter.com/i/web/status/2022088781474705442"  
[X Link](https://x.com/jayparsons/status/2022088781474705442)  2026-02-12T23:21Z 30.1K followers, [---] engagements


"17) One driver in OpEx savings: AI and automation. EQR said they've achieved 15% payroll savings from centralization and automation initiatives and expect to get another 5-10% "over the next several years.""  
[X Link](https://x.com/jayparsons/status/2022089114963914853)  2026-02-12T23:23Z 30.1K followers, [---] engagements


"As always this is NOT investment advice of any sort. Just [--] things I found interesting from EQR's Q4'25 earnings call. Below is a thread of threads for other REIT calls if interested: https://x.com/jayparsons/status/2022046511157453289 Here's a running thread recapping Q4 [----] earnings call highlights for the apartment and SFR REITs. Will be adding to this as I get to them. 🧵 https://x.com/jayparsons/status/2022046511157453289 Here's a running thread recapping Q4 [----] earnings call highlights for the apartment and SFR REITs. Will be adding to this as I get to them. 🧵"  
[X Link](https://x.com/jayparsons/status/2022089167279468984)  2026-02-12T23:23Z 30.1K followers, [----] engagements


"my view is that institutional-quality apartments in good locations have established pricing in mid 4s to low 5s. that is dominating the composition of trades while we're seeing far fewer deals that are lower quality in weaker locations. so you could argue that once those lower-quality deals start trading again the market average cap rates will go up but what matters more REITs and their private sector peers is the segment they play in. and barring a shock i don't see those cap rates going up. https://twitter.com/i/web/status/2022358800213119062"  
[X Link](https://x.com/jayparsons/status/2022358800213119062)  2026-02-13T17:14Z 30.1K followers, [---] engagements


"@ParachuteJ66186 @Gianni_Parente Something is worth what someone else is willing to pay for it. I dont think ppl outside industry fully appreciate depth of demand for well located class A deals"  
[X Link](https://x.com/jayparsons/status/2022367246840987664)  2026-02-13T17:48Z 30.1K followers, [--] engagements


"that is not true. they aren't buying much anymore b/c it's more accretive to build or buy back stock. i'm no CFA and not here telling anyone to buy anyone's stock. but the reason class A deals are trading in 4s and low 5s is b/c sellers like that real estate just as much as buyers. the public markets are terrible gauge for real-world asset value. https://twitter.com/i/web/status/2022368245735387266 https://twitter.com/i/web/status/2022368245735387266"  
[X Link](https://x.com/jayparsons/status/2022368245735387266)  2026-02-13T17:52Z 30.1K followers, [--] engagements


"13) Mixed story on Denver. Most REITs reported very challenging conditions in that market due to both supply and demand issues but Camden called it "fairly stable." However Camden said a policy change related to utility chargebacks cost them $1.8m"  
[X Link](https://x.com/jayparsons/status/2022382487629119725)  2026-02-13T18:48Z 30.1K followers, [---] engagements


"14) Camden gave "B" grades to many of its core Sun Belt markets. Noted improving conditions in Nashville Atlanta Dallas and South Florida. They suggested Orlando Raleigh and Charlotte a bit behind that group due to supply but on similar trajectory"  
[X Link](https://x.com/jayparsons/status/2022383037250724022)  2026-02-13T18:51Z 30.1K followers, [---] engagements


"15) Camden also gave a "B" to Tampa. And then it was coolest on Phoenix (B-) and Austin (C+) citing elevated supply lease-up competition and high concessions -- which align with industry-wide trends suggesting those two may be laggards in recovery"  
[X Link](https://x.com/jayparsons/status/2022383468555178015)  2026-02-13T18:52Z 30.1K followers, [---] engagements


"As always this is NOT investment advice of any sort. Just [--] things I found interesting from Camden's Q4 [----] earnings call. For an ongoing "thread of threads" of other apartment and SFR REIT call recaps here you go: https://x.com/jayparsons/status/2022046511157453289 Here's a running thread recapping Q4 [----] earnings call highlights for the apartment and SFR REITs. Will be adding to this as I get to them. 🧵 https://x.com/jayparsons/status/2022046511157453289 Here's a running thread recapping Q4 [----] earnings call highlights for the apartment and SFR REITs. Will be adding to this as I get to"  
[X Link](https://x.com/jayparsons/status/2022383830095769648)  2026-02-13T18:54Z 30.1K followers, [----] engagements


"Every legitimate source for apartment data shows: Where there's a lot of new apartment supply rents are falling. Where there's little new apartment supply rents are rising. It's all about supply and demand. Source: Avison Young Q3 report using CoStar data"  
[X Link](https://x.com/jayparsons/status/1983627799828332764)  2025-10-29T20:11Z 30.1K followers, 82.9K engagements


"Important truth bomb: Developers don't pay for inclusionary zoning. Renters do"  
[X Link](https://x.com/jayparsons/status/1985399525914395107)  2025-11-03T17:31Z 30.1K followers, 25.1K engagements


"Apartment rents are falling in more U.S. markets today than at the height of COVID lockdowns in [----]. Half of the nation's [---] largest metro areas cut rents year-over-year through October. Most of those are high-supplied markets dealing with the biggest supply wave in a half-century (led by Denver Austin Phoenix) but that's not the only factor. We're also seeing rents fall in lower-supplied markets like Washington DC Los Angeles Las Vegas and Sacramento among others. In those markets a soft job market and weak consumer confidence are likely culprits. Apartment execs are saying that CURRENT"  
[X Link](https://x.com/jayparsons/status/1988297596440543233)  2025-11-11T17:27Z 30.1K followers, 213.3K engagements


"After today's Los Angeles city council vote further tightening rent caps below inflation what is the investment case for investing in rent controlled apartments in L.A. instead of in T-bills or a high-yield savings account"  
[X Link](https://x.com/jayparsons/status/1988749238294180021)  2025-11-12T23:22Z 30.1K followers, 72K engagements


""After decades with long-term tenants the brothers calculated that getting the apartments back up to code would cost thousands of dollars that couldnt be recouped at the artificially low rent cap. So the apartments sit vacant and off the rental market. According to the Census Bureau in [----] there were some [-----] regulated apartments in the same situation.""  
[X Link](https://x.com/jayparsons/status/1988778188961722608)  2025-11-13T01:17Z 30.1K followers, 113.4K engagements


"On the Harris housing plan many YIMBYs are ecstatic . and yet builders are skeptical. Why Builders (who would benefit exponentially from 3m+ new units) are less confident this plan could accomplish its goal. Three hurdles they see that aren't getting enough discussion: 1) "The plan makes no mention of reducing onerous federal regulations that add to the 24% cost burden on single family home construction or the almost 41% increase on the construction of a multifamily unit" the the National Association of Homebuilders wrote. This could (and should) be easily added into the Harris plan. 2)"  
[X Link](https://x.com/jayparsons/status/1828834227305275707)  2024-08-28T16:37Z 30.1K followers, 27.2K engagements


"Friendly reminder: BlackRock owns zero single-family homes. If we spent as much time pursuing real solutions as we do chasing conspiracy theories we might actually make the American Dream more accessible to more people. BlackRocks shell company scam to skyrocket the cost of entire neighborhoods BlackRock is buying homes at lower values and then selling those homes to themselves to shell companies for hundreds of thousands more. Heres how the scam works - Step one the identify middle class https://t.co/j98AigLwx0 BlackRocks shell company scam to skyrocket the cost of entire neighborhoods"  
[X Link](https://x.com/jayparsons/status/1981735066318389595)  2025-10-24T14:50Z 30.1K followers, 10.1K engagements


"Equity Residential (apartment REIT with 86k units most in coastal markets) had its earnings call last week. Some very interesting/telling color on state of the market. 1) Are renters in weakening financial shape Not at all so far. Incomes are up rent-to-income 20%. But"  
[X Link](https://x.com/jayparsons/status/1985737070912958740)  2025-11-04T15:53Z 30.1K followers, 22.9K engagements


"Interesting slide from AMH on the renter profile of their single-family rentals: Incomes: $150k Age: [--] Household: [--] parents [--] kids Pets: You know it Length of stay: [---] years"  
[X Link](https://x.com/jayparsons/status/1999527522262712640)  2025-12-12T17:11Z 30.1K followers, [----] engagements


"I am not an expert on the homebuilders so I had to go back and look at what homebuilders have said about selling to SFR operators. Their past comments suggest it's not as clear-cut as Pulte said on CNBC. Back in [----] Lennar announced an SFR business and said it was an "opportunity for families and individuals across the country to live in brand-new homes at an attainable price point all without putting up a down payment. We have a distinct opportunity to create upward mobility in the housing market through this initiative.""  
[X Link](https://x.com/jayparsons/status/2009366326695833619)  2026-01-08T20:47Z 30.1K followers, [----] engagements


"@J_Philbeck @Donn1nger Someone with [--] houses is not an institutional investment group"  
[X Link](https://x.com/jayparsons/status/2009774530344976548)  2026-01-09T23:49Z 30.1K followers, [--] engagements


"i don't know specifics but they were far from the only one that tried it. broadly i think the conversion rates were just too low particularly for ppl who already had low credit scores going in-- but that's also much of the demand for rent-to-own and they'll still struggle to qualify for a mortgage even a few years later unless income materially goes up or debt burden materially goes down. https://twitter.com/i/web/status/2019103661977161757 https://twitter.com/i/web/status/2019103661977161757"  
[X Link](https://x.com/jayparsons/status/2019103661977161757)  2026-02-04T17:40Z 30.1K followers, [---] engagements


"Elvis came on the radio & I told the kids he is one of the most famous musicians ever. My [--] y/o asked "More famous than @tobymac" I said yes & the kids were bewildered. Finally the [--] y/o declares "I like @tobymac better." Then the [--] and [--] y/os concur. I guess case closed"  
[X Link](https://x.com/jayparsons/status/1092119863689121798)  2019-02-03T17:57Z 30.1K followers, [---] engagements


"What's going on in Phoenix No other apartment market is decelerating right now at the pace we're seeing in Phoenix -- which not long ago consistently ranked among the national leaders in rent growth. But a lot has changed so far in [----]. Here are a few stats:"  
[X Link](https://x.com/jayparsons/status/1557734684666531841)  2022-08-11T14:24Z 30.1K followers, [---] engagements


"The rental market of [----] looks nothing like [----]. With Q3 almost in the books the preliminary numbers for apartment demand look wayyyyyy weaker than expected. We'll release final numbers next week but this could be the downside scenario we warned about earlier this summer"  
[X Link](https://x.com/jayparsons/status/1574751570872483841)  2022-09-27T13:23Z 30.1K followers, [----] engagements


"And here's the data: The weakest Q3 for U.S. apartment leasing in the [--] decades we've tracked the market. It's not a collapse (vacancy and turnover are still lower than normal) but it's a remarkable change of momentum. Here's what it means. The rental market of [----] looks nothing like [----]. With Q3 almost in the books the preliminary numbers for apartment demand look wayyyyyy weaker than expected. We'll release final numbers next week but this could be the downside scenario we warned about earlier this summer. The rental market of [----] looks nothing like [----]. With Q3 almost in the books the"  
[X Link](https://x.com/jayparsons/status/1577299292284502019)  2022-10-04T14:07Z 30.1K followers, [---] engagements


"U.S. apartment rents fell for a second straight month and the cuts are deepening. Effective asking rents fell 0.56% MoM in October [----] (on a same-store basis). That's the 3rd-deepest cut in 12+ years surpassed only by the COVID lockdown era of April-May 2020"  
[X Link](https://x.com/jayparsons/status/1587828659431215105)  2022-11-02T15:27Z 30.1K followers, [---] engagements


"Here's the data to show real-life rent inflation will cool faster than the Fed suggested last week-- and not just for asking rents: Weve plunged back to long-term average in loss to lease meaning the runway for renewal lease rents will significantly narrow going forward"  
[X Link](https://x.com/jayparsons/status/1589625988568461312)  2022-11-07T14:29Z 30.1K followers, [---] engagements


"Apartment rents declined again in November. And although fall/winter cuts are seasonally common this isn't just normal seasonality. The cumulative cuts over the last [--] months are the largest for any 3-month period since [----] with the exception of [----] lockdown period"  
[X Link](https://x.com/jayparsons/status/1599777753892458497)  2022-12-05T14:48Z 30.1K followers, [---] engagements


"Net demand for apartments ended in negative territory for calendar [----]. But unlike the last time demand went negative in [----] renter turnover was curiously low in [----]. Lower than any year other than [----]. Instead the problem was at the front door"  
[X Link](https://x.com/jayparsons/status/1611039866493571072)  2023-01-05T16:40Z 30.1K followers, 149.3K engagements


"Those who claim America is becoming a "renter nation" may be surprised to see the U.S. homeownership rate hit a 12-year high of 66% in Q1'23. Contrary to narratives homeownership has been on steady climb for the last [--] years"  
[X Link](https://x.com/jayparsons/status/1666182812691578880)  2023-06-06T20:38Z 30.1K followers, 52.3K engagements


"Homelessness in Texas is down over the last decade. It's up in California. Why California tries to solve the problem through tenant rights & rent controls. Texas solves the problem by prioritizing subsidized affordable housing. It's always about supply"  
[X Link](https://x.com/anyuser/status/1674232939230404609)  2023-06-29T01:46Z 30.1K followers, 70.9K engagements


"Today is my last day at RealPage. It all started [--] years ago when I took a job there as an entry-level multifamily research analyst -- and only because I needed one during a recession not because I really wanted it. I had no intent of sticking around long. But I slowly came to realize that rental housing was so deeply misunderstood and underappreciated by society and policymakers and even many investors and yet so essential for millions of everyday Americans. I wanted to make a difference and still do. I've learned from countless leaders in the industry at government agencies at non-profits"  
[X Link](https://x.com/jayparsons/status/1763566793140978099)  2024-03-01T14:07Z 30.1K followers, 68.8K engagements


"Nice work Seattle. Direct aid to low-income renters works-- and without the collateral damages to supply associated with rent control or blanket eviction bans"  
[X Link](https://x.com/jayparsons/status/1781688467283456102)  2024-04-20T14:16Z 30.1K followers, 86.7K engagements


"Love to see headlines like this rightfully framing the apartment supply surge's impact on rents"  
[X Link](https://x.com/anyuser/status/1840037220691927506)  2024-09-28T14:33Z 30.1K followers, 17.8K engagements


"*UPDATED AGAIN and STILL TRUE* When you build a lot of apartments market-rate rents fall even in the most affordable (Class C) apartments. Across the U.S. [--] MSAs saw Class C rents fell 3.5%. In [--] of those new apartment supply exceeds the U.S. average. Coincidence Nope"  
[X Link](https://x.com/jayparsons/status/1858516295907455040)  2024-11-18T14:23Z 30.1K followers, 68.4K engagements


"Multifamily's biggest investor event NMHC Annual Meeting wraps up today. Here are some takeaways: 1) Lots of short-term uncertainty due to rates but mid/long-term bullishness with strong demand and falling supply. A 50-year peak in supply is currently pushing rents negative but completions are now trending downhill and should be below average by next year. 2) But deal flow is stagnant because of rates. It appeared 3-4 months ago that we could see sales volumes rebound as 10-year treasury yields dipped into the 3s but now we're back in mid-4s. This creates a math problem b/c few deals pencil"  
[X Link](https://x.com/jayparsons/status/1885006307352367228)  2025-01-30T16:45Z 30.1K followers, 186.4K engagements


"Renters are people too. Not second-class citizens. 👇 yikes"  
[X Link](https://x.com/jayparsons/status/1894934384853082215)  2025-02-27T02:15Z 30.1K followers, 16.1K engagements


"Cities think if they require apartments have ground floor retail they'll get more cool coffee shops and boutique retail. Great idea in theory. Unrealistic in practice. The coffee shops and retailers don't want to be in 95% of those locations. I was asked to by a multi-family developer to run a study on retail vacancy within suburban MF projects built in the past [--] years. The results of just one submarket: 28% overall vacancy rate for retail within a mixed-use project. The retail vacancy rate in that same I was asked to by a multi-family developer to run a study on retail vacancy within"  
[X Link](https://x.com/anyuser/status/1905269295233277973)  2025-03-27T14:42Z 30.1K followers, 86.7K engagements


"If your city is more worried about developers actually making money than about renters actually getting housing then you're not going to build a lot of housing. I genuinely dont understand how the politics of red states are more progressive on housing issues than blue states. Explain to me like Im [--]. I genuinely dont understand how the politics of red states are more progressive on housing issues than blue states. Explain to me like Im 5"  
[X Link](https://x.com/jayparsons/status/1938279964727550009)  2025-06-26T16:55Z 30.1K followers, 31.9K engagements


"@catvielma If your city is more worried about developers actually making money than about renters actually getting housing then you're not going to build a lot of housing"  
[X Link](https://x.com/jayparsons/status/1938279979390824592)  2025-06-26T16:55Z 30.1K followers, 16.5K engagements


"If you sincerely care about the cause of rent affordability there's one -- and only one -- solution widely supported by data academics and practitioners: Build more housing. Check this out: Rents are falling where we built a lot of apartments. Rents rising where we didn't"  
[X Link](https://x.com/jayparsons/status/1950206738273013941)  2025-07-29T14:48Z 30.1K followers, 77.7K engagements


"9) Invitation -- like its peers in both SFR and multifamily -- is seeing strong numbers in the Midwest. But INVH doesn't plan to expand much there. On risk-adjusted basis INVH still sees better opportunities in high-growth Sun Belt markets"  
[X Link](https://x.com/jayparsons/status/1951326336179454411)  2025-08-01T16:57Z 30.1K followers, [---] engagements


"Good read from the @WSJ -- building more housing is the best and most proven way to boost rental affordability. Latest case in point: New Rochelle NY"  
[X Link](https://x.com/jayparsons/status/1952778370057462115)  2025-08-05T17:06Z 30.1K followers, 26.9K engagements


"NEW RESEARCH by former professors at Harvard and UC-Berkeley answers the question: How do tenant protections like "just cause eviction" right-to-counsel and source-of-income impact rents Answer: They drive up rents -- especially for the lowest-income renters. Findings: 🧵"  
[X Link](https://x.com/jayparsons/status/1960343706386506096)  2025-08-26T14:08Z 30.1K followers, 136.5K engagements


"Pew has been putting out some great research on housing of late"  
[X Link](https://x.com/jayparsons/status/1973094295730114584)  2025-09-30T18:35Z 30.1K followers, 27.6K engagements


"I'm way late to this one but have to point out: In Texas you see bumper stickers that say "Don't California My Texas" and yet that's exactly what some cities are doing through their creative efforts to skirt a new state law allowing multifamily on land zoned commercial. From cities like Arlington and Irving adds ridiculous requirements for expensive amenities that only makes projects less likely to work (and if they drive up rents). And then Frisco takes the cake acting like a smart alecky high school kid trying to skirt an assignment. They've exploited a loophole in the state law that says"  
[X Link](https://x.com/jayparsons/status/1978484152677879839)  2025-10-15T15:32Z 30.1K followers, 19.9K engagements


"And if you think: "It's TRUE but it's BLACKSTONE not BlackRock" well that's wrong too. Blackstone owns something like 0.06% of single-family houses in the U.S"  
[X Link](https://x.com/jayparsons/status/1981740639977923055)  2025-10-24T15:12Z 30.1K followers, [----] engagements


"@VALUBULL28 @EstateBets1135 respectfully it's a lot more nuanced than that when you dig a layer deeper. for example supply going to markets that still have favorable long-term demos. i think it's a mistake to have a "apartments OR SFR" mindset when both can do well"  
[X Link](https://x.com/jayparsons/status/2015088487465112038)  2026-01-24T15:45Z 30.1K followers, [--] engagements

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