Welcome to the Digible Dudes Podcast, Episode #154. This week, hosts David Staley and Reid Wicoff sit down with a titan of the commercial real estate research world, Jay Lybik.
With almost three decades of unparalleled experience, Jay currently steers the ship as CoStar’s National Director of Multifamily Analytics. His storied career spans roles at Marcus & Millichap, Equity Residential, and Cushman & Wakefield.
Dive in as we discuss the ever-evolving multifamily market, the role of data analytics, and much more.
To kick things off, Jay breaks down the multifamily market, tracing its history from the ’80s and ’90s garden-style properties to the luxury apartments of today. Uncover the reasons behind the decline in year-over-year rent growth for luxury segments and learn about Jay’s keen foresight that has often set him apart in the industry.
Reid and Jay deep dive into CoStar’s multifamily analytics vision, discussing the intricacies of gathering accurate rent data and exploring the potential of overlooked markets like the Midwest.
Whether you’re an industry expert, a multifamily entrepreneur, or simply curious about digital marketing’s crossroads with the world of business, this episode is a must watch!
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(00:00) Preview
(00:40) Introduction
(08:15) Luxury Property Market Dynamics
(13:12) Predicting The Future Of The Multifamily Market
(16:20) The Economics of Luxury Apartments
(21:17) CoStar’s Rating System and Developer Strategies
(25:47) Behind the Scenes of CoStar’s Multifamily Analytics
(35:23) The Role of Rent Data and Future of Luxury Properties
(44:13) Consumer Behavior and Yield Management
(49:02) Trust in Technology vs. Human Intuition
(54:00) Innovative Strategies and Market Adaptation Strategies
(58:16) CoStar’s Approach in Uncertain Economic Times
(01:04:22) Is There Untapped Opportunity in The Midwest?
