A Stabilizing Market – Where Discipline Creates Opportunity
Over the past several months, the conversation around multifamily has started to shift. After several years of rising interest rates, record apartment deliveries, increasing operating costs, and limited transaction activity, we are beginning to see signs that parts of the market are finding firmer footing. Occupancy is improving in many markets. The pace of new […]
AI in Practice – Where Execution Still Matters More Than Strategy
The Future of Real Estate Belongs to Better Operators Over the last 18 months, the conversation around AI in real estate has shifted from early experimentation to broad adoption. Every firm now has an AI narrative. Every conference includes AI panels. Every operator is expected to have an opinion. Yet inside the industry’s best operating […]
The Multifamily Opportunity Is Now Out in the Open: Major Financial Institutions Are Making the Case for Apartments
Over the past 12 to 24 months, RSN has focused on a developing opportunity in multifamily: apartment values were resetting after the sharp increase in interest rates that began in 2022, while the underlying need for rental housing remained durable, new construction was slowing and the cost of homeownership was pushing more households to rent […]
Kevin Warsh and the New Era of Monetary Policy
What the New Fed Chair Could Mean for Rates, Real Estate, and the Next Investment Cycle Kevin Warsh was sworn in today as the new Chair of the Federal Reserve. That milestone marks a meaningful transition point for monetary policy and provides a timely moment to step back and assess what this leadership change could […]
From Appreciation to Income: The Quiet Strategy Rotation
The market hasn’t just repriced, it has reprioritized. What is happening in markets right now is not a single adjustment. It is a layering of shifts, macroeconomic, geopolitical, and structural, that are collectively changing how capital is being evaluated and deployed. Pricing has moved. That part is obvious. But more importantly, priorities have moved with […]
Two Months Later: When a Geopolitical Shock Starts Showing Up in the Real Economy
Any period of global conflict carries human consequences first, and that should never be minimized. What is unfolding in the Middle East is serious, and its impact extends well beyond financial markets. We are not a geopolitical news outlet, and that is not the role we are trying to play. At the same time, based […]
The Next Phase of the Great Consolidation in Real Estate Syndication
Over the past several years, real estate syndication has quietly entered a phase of consolidation. This did not start yesterday. It began when interest rates spiked in 2022, ending the easy-money environment that fueled more than a decade of rapid sponsor growth. Since then, investors have seen a steady shift in the market: This is […]
Global Conflict and Market Implications
How periods of geopolitical uncertainty historically influence rates, capital flow, and real assets Any period of global conflict carries profound human consequences first and foremost, and the gravity of events unfolding globally should never be viewed solely through a financial lens. At the same time, moments like this inevitably create uncertainty across markets and leave […]
Why We Show Up: What NMHC Tells Us About Where Multifamily Is Headed
Last week, our team attended The National Multifamily Housing Council, better known as NMHC in Las Vegas. From the outside, conferences like this can look routine. Panels, receptions, and familiar faces. For us, the value is not only in the stage content, but in the connections and calibration with our peers. NMHC is one of the […]
The Next Fed Chair: What Multifamily Investors Should Know Before the Headlines Hit
Editor’s Note (Update):Since this newsletter was first sent last week, prediction markets have shifted meaningfully. Kevin Warsh has surged to the front as the leading candidate to become the next Fed Chair. We’ve updated the odds section below to reflect this change. Importantly, the broader takeaways in this piece remain the same. We all know […]