Greg Willett Featured on PassivePockets Podcast: A 2025 Outlook for Multifamily Investors

As the multifamily market undergoes another transition, passive investors are facing critical decisions. Construction is slowing after a record-setting wave of new deliveries, and with uncertainty surrounding a new administration, inflation, and global tariffs, investor confidence is being tested.

Whether you’re a syndicator, LP, or just watching the market, this episode is a valuable listen for anyone thinking long-term in multifamily.

To help make sense of the moment, PassivePockets welcomed Greg Willett, Chief Economist at LeaseLock, for a data-driven discussion about what’s next for multifamily—and where smart investors should focus.

Key Topics Covered in the Episode:

• How a cooling pipeline could tighten supply: Despite recent saturation, a slowdown in new starts could create demand pressure again as early as 2025.

• The power of middle-market resilience: In uncertain economic conditions, Willett suggests targeting stable, moderate-income communities—where retention is high and rent growth is less volatile.

• Geographic shifts to watch: Secondary and tertiary markets are poised to benefit from renter migration and affordability concerns, potentially offering outsized returns.

• Rising rental demand, even amid economic stress: Operators may still benefit from a “premium to buy,” as higher interest rates keep many would-be homeowners in the rental market longer.

• What happens if a recession hits: While caution is warranted, Greg’s insights suggest that multifamily may remain one of the most durable asset classes—especially for those focused on fundamentals and operational efficiency.