The JV has been seeded with a recapitalized portfolio of 25 properties located in 12 states.

"Between job creation, population growth and the strong demographics of people moving here, I see there is going to be a lot of continued growth," said a Miami developer.

And why can't Dallas and Houston kick their concessions habit in this strong market.

Even though institutional investors are far from a dominant force in single family homes, they are an attractive target for politicians.

BlackRock and others say there will be abundant indirect benefits.

Meanwhile, asking rents increased by just 0.3% in the quarter to $40.36 per square foot.

Said one, "You can't replace the dynamic of conversations in the hallways."

The pursuit of greater compensation is real among multifamily employees.