Occupancy is climbing for the sector, but the recovery will extend well past 2023.

"They're attacking the economy with a sledgehammer and they don't need to," Starwood Capital CEO Barry Sternlicht told CNBC's Squawk Box.

Sector enjoyed 'stellar' first half of year, with steady growth buoyed by increased demand.

One expert predicts it will take years for the sector to recalibrate with the labor market.

Deal volume is up, but rising interest rates and surging capital costs pose headwinds for the sector.

In an encouraging sign for NYC real estate, residential rents posted small upticks in Brooklyn and Queens, while rents remain elevated year-over-year in all boroughs surveyed by MNS Real Estate.

Gen Xers are using the most self-storage of any demographic, according to a recent RentCafe analysis of 4,200 renters.

Should home prices and financing costs continue to rise, the SFR percentage share of the CMBS market could decline, says Trepp's Jack LaForge.