Robert Ritzenthaler’s Post

And here's why "over supply" isn't so "over". 14 years of renting being expensive relative to buying...gone! We'll see how this plays out over the next 12-24 months, but right now - brutal. Welcome to renter nation.

Another strong jobs report? 885,000 FT lost. 1,127,000 PT added (563k FTE - yes, this is a guestimate on FTE but bear with me here). Net loss of 322k not net gain of 336k. HUGE difference. And to make it worse - record number of folks taking on second jobs to make ends meet in this inflationary environment.

I appreciate Simon for sharing this. When you're swinging for the fences, you strike out once in awhile (check out Nolan Ryan's record). Even the smartest people in the room have really bad deals. It's how you handle them that separates you from the rest. I ran a very small tech fund back in the late 90s. When 2000 happened, it was game over. I felt terrible even though we all knew the risks we were taking. I decided to take some of my personal earnings and soften the blow for my investors. Relationships matter. It's all about the long game.

This doesn’t apply to most of us, but…based on current data, the next real estate cycle starts in the next 12-18 months. If you’re in development, time to start deploying cash. If you’re in value add, time to start collecting cash. Good hunting!

Nothing like a multi-billion dollar economic boost to keep the momentum going! Go St Pete!

Positive news on the inflation front. Core data continues to move down as expected. Fed’s focus on shelter and labor means rates are steady this month.

$265 million lost rents in Fulton County Alone (as of May!). A major black eye in an otherwise good market. A complete breakdown of the legal system. This is not sustainable.

Very proud of our team at Cottonwood Dallas for making these students' days a little brighter by handing out snacks and backpacks. With school starting, it’s back to the classroom for students across the country and it’s a great way for us as apartment owners to connect with our residents and be a positive part of their daily lives. I appreciate the work Sandy and her team do to care for their community in Dallas! They love what they do, and it shows. It’s the REM way!