The Northern New Jersey Group turned the page on a new chapter as the first meeting hosted by new sponsoring company Dresdner Robin took off. RPN President Rick Lackey introduced new Champion Tony Ianaule and Co-Champion Joe Mele to the members and guests present at the May meeting in Jersey City. The May speaker, Paul Fiorilla – journalist and research director for Yardi Matrix, the data division of Yardi Systems presented a detailed report on the state of the multifamily rental market, noting a slowing rate of growth in 124 markets across the U.S. After providing definitions of two key classifications of multifamily households – Lifestyle “renters by choice” and “Renters-by-Necessity” consumers – Paul detailed the rates of growth for each group over the last three months and the last twelve and then presented their combined growth rates during the same periods. Discussions broadened to include other real estate topics, from the growth of the New Jersey industrial market to HVCREs and 1031 exchanges, to proposed Federal tax code changes.