Are Cap rates getting better?

[Chirdeep Bhutani]

Maybe a very basic question, but I have been reading for a while that it's a good time to get into Commercial real estate because you are getting better cap rates now. Talking of multifamily specifically, how is it that we are getting better cap rates if the prices have not really reset lower. As far as I know the prices have continued to be stable or go up. Have the rents gone up that much?