If you work in multifamily today—whether on-site or in the C-suite—you're feeling the pressure of the final and most intense phase of the supply wave. Elevated concessions, slowed rent growth, and fierce competition for residents are dominating the 2025 landscape. But while today feels heavy, the real story is already shifting beneath our feet.

The pipeline for new development has collapsed, with multifamily starts down more than 70% from their peaks and construction activity falling to levels not seen since 2012. High interest rates, insurance costs, and construction expenses didn't just slow development—they shut the factory down.

This sets the stage for a dramatic supply drought beginning in 2026. With completions projected to fall sharply over the next two years, analysts across CBRE, CoStar, Yardi Matrix and others agree: the shrinking pipeline will push rent growth back up as demand continues to outpace new supply. The operational pain of today is temporary—but your 2026 strategy needs to be built for a very different reality.

AI isn't here to replace property managers—it's here to make communication smarter and easier. In this episode of The Multifamily Review, Marcus Armstrong and Mya Hayhurst explore how the CRAFT method helps property managers use tools like ChatGPT to write review responses, resident emails, and social posts that are professional, personalized, and efficient. Tune in to learn how AI can save you time while keeping your voice authentic.

Forget what you think you know about property management. The real story isn't written in boardrooms; it's lived in the leasing office, where a single day can range from celebrating a team win to navigating a crisis that feels like a "war flashback." So what separates a thriving, energized team from one that's burning out?

On The Multifamily Review, we're getting real. Host Marcus Armstrong brings in coworker Kelley Lockaby to share candid stories and powerful lessons from her years on the front lines of multifamily. They explore the human side of the business, the relationships that forge unbreakable teams, the leadership actions that build unshakeable loyalty, and the emotional weight that onsite staff carry every day.

This isn't just another podcast. It's an inside look at the heart of your operations. Whether you're an executive trying to connect with your teams or an onsite professional who wants to feel seen, this episode is for you.

Listen now for a dose of reality, humor, and a new perspective on what it takes to build a winning on-site culture.