Join the Leading Community for Deal Makers Since 2014: dealmakercommunity.com/apply 2025 was supposed to be the year of stability… and instead we got falling rents, price pressure, record supply, and operators fighting headwinds from every direction. So what happens in 2026? In this episode, I break down what really happened over the last 12 months, why massive Class A supply distorted the entire market, where interest rates are likely headed, and why the sharp drop in new construction could quietly set up the next growth cycle. This may be the most important market update you watch all year.

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