Jeff Spector

My question is on the development homes occupied the expectation for '26

recent demographic shifts, changes that we're seeing. Any anything impacting your decision on the future allocation of suburbs for 80%

I'm just curious if you could share with us maybe what some of the underlying assumptions that they're making in terms of the job market in '26

what do you see and hear that gives you confidence that there will be similar distress that Camden can take advantage of

what type of historical delay do you see?

Can you talk a little bit more about expectations for, let's say, second half of the year, or even '26 at this point?

Can you elaborate on your comment that you expect record retention to stay record low turnover in 2025?

could you talk a little bit more about San Francisco specifically, let's say, downtown and we're seeing all these great articles on downtown, the city versus your suburbs. How is your portfolio ben...

it does seem like we're seeing mixed signals between AI hiring, tech layoffs. I mean, how are you thinking about this into next year, maybe even medium-term?

Can you talk about that in a historical context? Was it a normal pickup that you see in January? Was it stronger than normal, weaker than normal?

can you just dive into that a little bit more, the impetus and in terms of acquisitions, you mentioned cap rates are in the mid to high fours

was there anything specific you can cite, whether it was a particular region, EXR legacy versus LSI.

it sounds like 2025 right now, the setup into peak leasing is very similar to last year. Is it fair to say laser focus still on housing as a key driver of demand?

I wanted to see if Wendy could just clarify her comment around the mix of deals executed in the quarter, the 2% rate on the new lease rate.

can you talk a little bit more, disclose more on on cap rates?

from a high level, long-term standpoint, five-year view. Does any of this change your thinking on portfolio positioning?

I wanted to just follow-up on the latest discussion around tariffs

it's still fairly wide, minus 1.3% to 0.8%. Can you talk about the various scenarios or key drivers bottom end versus top end?

Just curious into July, how are operators using street rates to manage occupancy versus demand?

I just wanted to ask, I don't think you discussed specifically your business customer. I just want to confirm, have you seen any recent changes

are you seeing any differences in the month of April?

What's driving that? Is it simply less supply? I mean, are you actually starting to see an improvement in demand top of the funnel?

can you talk a little bit more about the assumptions on street rate? I think you said you're assuming on average during '25 down 5%

could you describe for us the leasing velocity you're seeing, some of the demand may be a peak in to your last leasing meeting

I wanted to focus on some of the initiatives you have to bring people to the mall

talked about lower supply benefiting I think you said late '25, please confirm if that's correct or not. I guess my question really is on the confidence level

whether it's AI-driven or just new technology or applications you're seeing. Is there anything exciting on the horizon here

Can you talk about your latest thoughts on the potential impact across maybe the broader potential changes across different health care asset classes

Can you tie that into some of your company initiatives to improve those move-ins, maybe faster turnover

Can you talk a little bit more about the strategy around the research portfolio

you did talk about the high degree of macro uncertainty. Guess, but you guys have also discussed the strong move in tour activity