22.6 million U.S. households now pay more for housing than they can afford, and the average home costs five times what the average family makes. Sam Froerer co-owns thousands of apartment units through Compass Capital — and has never owned his own home. He tells Jerremy Alexander Newsome and Dave Conley that the industry's top 50 owners control less than 11% of it, and most landlords treat tenants as a commodity to evict and replace rather than serve. Chick-fil-A makes three times the revenue of the average McDonald's despite longer wait times, and Sam argues that gap is exactly what his industry ignores: the experience, not the price.

Timestamps:

• (00:00) 22.6 million households – now pay more rent than they can afford
• (00:28) Every complex, same rating – two stars, no matter where you look
• (03:34) Never owned a home – the multifamily owner who still rents
• (10:14) Tenants as a commodity – why the industry treats renters this way
• (16:24) Can't make rent? – here's what actually happens on the fifth

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