The comps did not support those values, but of course they were selling to out of state investors who were desperate because their cap rates were so compressed...

We're putting on waaaay too many multifamily units these days and I think that's going to compress rents for the next few years and ultimately make the market less attractive. 

I would also stay patient as now isn't exactly the best time to buy with extremely compressed cap rates.

Cap rates have compressed quite a bit in the MF world in good markets. 

I know that higher-end flippers sometimes compress their numbers on high-end properties, but in this case it's hard to justify.

To me, this book cohesively compressed a lot of the information I’ve been listening in the podcasts.

Yes, cap rates have become compressed, and return is much lower than previous.

Northern VA is always a good safe bet, compressed cap rates but as always a safer return.

Hi @justin Laczynski,Cap rates have compressed as a result of the general "search for yield" and the subsequent amount of capital in the market.

That combines with the investment demand from the "silver tsunami" , compressing bond yields and in general the global search for yields, apartments are only going to become more expensive to buy.