Deputy Chief Economist and VP of Asset Optimization at Real Page Jay Parson discusses the multifamily property market, touching on topics like rent growth, urban vs suburban multifamily trends and observations, construction costs, and apartment supply levels. He talks about the wide difference today between class A and class B properties, with a 40% difference between the two, and how this insulates class B property as class A supply hits the market. He comments that investors and lenders tend to overestimate the impact of supply hitting the market while they underestimate the supply of demand tails winds, which has seemingly been the case in recent years.