EP#100 James Ray | This Isn't 2008: Distress, NOI, & the Equity Swing

EP#100 James Ray | This Isn't 2008: Distress, NOI, & the Equity Swing

From The Rent Roll with Jay Parsons by Jay Parsons

September 3, 2026 · 1h 25m

About this episode

In Episode 100, Jay Parsons interviews James Ray to discuss the current real estate cycle, comparing it to 2008 and exploring the significance of NOI and regulatory risks.

It's Episode 100 of The Rent Roll, and we're bringing back one of our most popular guests — James Ray of MetLife and CRE Analyst — to take on the big questions about the cycle ahead. How does distress compare to 2008? Why will NOI matter more than appreciation in the next cycle, and how do investors plan accordingly? How does increased regulatory risk impact allocations toward multifamily, single-family rentals and build-to-rent? When will institutions rebalance toward equity strategies after several years focused on private credit? What impact is AI having? And much more. Additionally, in this week's version of "The Complaints Department" segment, Jay addresses the most common complaint he hears. Jay also brings back other recurring segments like Rental Housing Trivia, In the News, Here's a Chart and Good Question.

People in this episode

Host: Jay Parsons

Guest: James Ray

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Mentioned in this episode

Organizations: MetLife, CRE Analyst

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