skewed data for apartment expense ratio?

[Allie J.]

Hi all,

I was reading this article here: 

https://www.realpage.com/mpf-research/size-matters...

and feel like their graphs and whole story is pretty skewed. Just because their expense ratios peaked around 08 doesn't really mean the expenses have gone down since then - it's just that rent probably was at a low in 08 and is now recovering? 

I am still new and trying to make sure I understand all these metrics. Am I missing something or is this article somewhat misleading? 

Thanks in advance!

Allie