The current economic uncertainties have created a "tale of two cities" in the multifamily market, as the overall financial markets waver against record-breaking growth in the sector, panelists said at this year's GlobeSt multifamily conference. 

"What's different about the current situation is how quickly things have turned," said Sean Burton, CEO of Cityview, at a panel on institutional investment in the sector. "This is the fifth recession I've seen but the speed at which it's happened this time, the speed at which rates have gone up, I've never seen anything like it. And it's creating crazy disruption but is very much a tale of two cities….you have this tremendous disruption caused by the financial markets and interests rates and yet the assets are really performing. We're still seeing incredible rent growth."

In other words, assets are performing, but the financial markets are "kind of messing everything up," Burton said.