A conversation with longtime multifamily industry veterans, Terri Clifton, President of Better World Properties, and Michael Knight, the Executive Vice President of Better World Properties... discussing how the fallout from early 2020s value-add deals is reshaping multifamily, including who absorbs losses across the capital stack, why expectations must reset for owners and lenders, the renewed focus on operational discipline and rent fundamentals, and how competing on service, culture, and back-to-basics execution is critical in a more price-sensitive renter environment.