I always supply them with different failure calcs.  

I've personally seen concessions up to 8 weeks free plus a 6 hours of free moving as an example for what some apartments are offering as concessions to fill up their communities.As the market continues to evolve and more apartment communities become available I suspect there will be more concessions for renters to take advtange of as supply begins to outpace demand.

Yes, that yellow flex line is the gas supply to the heater.

Since we do deals all over Florida, we're constantly adjusting based on supply and demand per county, but overall, demand in Florida remains strong.I agree with you.

We use a national supply house for everything and do mostly builder grade with upgrades where they need to be at.

(an objective fact) By comparing yields across different investment vehicles, for many investors real estate is no longer worth: the capital, the work, the risk.You can be bullish in real estate today by saying: I believe the Fed will not increase the supply of new builds to the market over the next decade.

My largest concern is that as we go lower in rate, housing supply will ultimately be unlocked putting downward pressure on rents/asset prices. 

I know lumber has come down significantly and have been reading due to a slow down in the market there is over supply coming from the lumber mills. 

given the above two charts, massive supply x 13 years, falling rent growth rates x 18months, would guess rough times ahead for US Multi-Fam next 2 -3 years, but doesn't look like we are near bottom of the cycle yet?

This is just speculation, but supply and demand drive the market...Reach out if you want to connect or chat more about the market