GDP Up, Interest Rates Flat: Where to Invest?
GDP is up, but not enough to dispel the lingering uncertainty in the economy. Likewise, Jerome Powell’s final meeting as Fed Chair saw no change in the (elevated) federal funds rate, with few signs of rate cuts from the Fed in the months to come. In this environment, with major apartment REITs Avalon Bay and Equity Residential in merger talks after a “challenging year” in 2025, finding stable, resilient markets is even more important for investors, and regional differences have grown considerably. The South, West, and Northeast have concessions trending higher, but concessions in the Midwest are lower. Supply trends paint a similar picture, with the Midwest posting a notable 30% drop in starts that points to stronger rent growth in the region as demand and supply come into greater balance.
National YoY Rent Growth Average, March 2026*
-0.42% ↓
* Based on data from RealPage, Zillow, Yardi Matrix, Apartment List, and CoStar
National Occupancy Average, March 2026*
93.83% ↑
* Based on data from RealPage, Yardi Matrix, Apartment List, and CoStar
3.66% ↑
3.64% –
Multifamily and the National Economy
Multifamily Starts Increased Nationwide in March, but They Shrank in the Midwest (RealPage)
GDP rose at 2% annual rate in first quarter as U.S. economy rebounds (CBS News)
Equity Residential, AvalonBay In Early Talks To Combine (Bisnow)
Powell’s Finale – The April FOMC Meeting (Berkadia)
Housing Demand Drivers
Economic Uncertainty Weighs on Overall Housing Demand (Institutional Property Advisors)
Housing’s Share of GDP Dips Below 16% for First Time Since 2019 (NAHB)
More Americans Are Earning Their Way Out of the Middle Class (GlobeSt)
Multifamily and Housing Trends
High gas prices hit entry-level new home buyers hardest (John Burns Research and Consulting)
Fannie Mae DUS Activity Rises Sharply in Q4 2025, While Underwriting Holds Steady (Trepp)
AI and the Office Market
AI’s Impact on the Economy, Employment & Productivity (CBRE)
Prime Office Availability is Falling Fast in the Largest U.S. Tech Hubs (Cushman & Wakefield)
Q1 Report: U.S. Office Market Stable, Growth in Key Markets (Colliers)
Office Sector Recovery Sustains Momentum (Marcus & Millichap)
From premiums to policies: Understanding commercial property insurance trends in 2026 (Northmarq)
Subscribe Today to Our Weekly Email Newsletter
This newsletter is for informational purposes only and do not constitute an offer to sell nor a solicitation to purchase interests in J and G Capital, LLC (the “Company”) or any affiliate or assign nor any other securities. This newsletter is not financial advice, and the and newsletter does not purport to contain all information that is or could be material to an investor in deciding whether to make an investment in the Company. An investment in the Company is subject to a variety of significant risks and considerations that are detailed in the Company’s Subscription Agreement, Disclosure of Investment Risks, Operating Agreement, and related documents (the “Offering Documents”). Prospective investors are advised to review the Offering Documents and consult their own legal, financial, and tax advisors regarding any potential investment in the Company. Subscriptions for an investment in the Company will not be accepted from any prospective investor unless and until such prospective investor has received and fully reviewed a copy of the Offering Documents and has executed and delivered all documents required in connection with such investment. Past performance may not be indicative of future results.