Gross rent multiplier

[laughs]

I'm a GRM dude.

Look at...

How did the GRM shift when rates exploded?

Uh, when rates exploded, real estate values dropped by about 50% on the West Side.

Mm.

Let's get into it.

Is a lower or higher GRM better for a buyer?

Lower.

I agree.

[bell dinging]

If you're a buyer, the lower GRM is gonna be better for you in, in most cases.

GRM stands for gross rent multiplier.

GRM is one of the metrics we use to analyze apartment buildings, and, uh, it's a really simple metric.