“If you want to know where inflation is going, you need to know where housing inflation is going,” said Mark Franceski, managing director at Zelman & Associates, a housing research firm. Housing inflation, he added, “is not slowing at the rate that we expected or anyone expected.”
Those expectations were based on private-sector data from real estate websites like Zillow and Apartment List and other private companies showing that rents have barely been rising recently and have been falling outright in some markets.
@ScornfulPenguinDemocrat3mos3MO
Please explain why healthcare is included. It’s a necessity and we are captive buyers with little choice since lives are at stake. They know it and soak us.
Higher interest rates do not affect healthcare or pharma pricing.
@VictoriousZealousRepublican3mos3MO
The Consumer Price Index is meant to be a measure of the overall cost of living. Health care costs are, of course, a cost (and for many folks, a big one), so it's included in the index.
You're right, though, that some parts of the economy are much more sensitive to the Fed's policies than others. Interest rates have a huge effect on housing, for example, whereas oil prices are mostly driven by forces outside the Fed's control. The Fed knows this, and focuses on more interest-rate-sensitive areas when trying to see whether its policies are having an effect.
@FinickyBuckDemocrat3mos3MO
My rent just went up $100/mo. as I signed a new lease. I have not received any raise in income.
@SocialJusticePandaForward3mos3MO
Mine went up $200 because I chose month to month lease. I am looking to buying but there is one new house on the market every week and 200 buyers jockeying for a winning bid.
@IntuitiveCaucusGreen3mos3MO
Where are rents coming down? I live in a big city and the low average rate for a small one bedroom apartment is $1400. If you're lucky, you'll get heat/hot water included and maybe an off-street parking spot.
@LeftLaneJasmineSocialist3mos3MO
Change the tax laws so that large investors don’t benefit from buying up housing stocks. Something like:
Best tax situation: owning or renting a primary residence.
Worst tax situation: owning more than three homes and keeping them vacant.
@DirectWigeonWorking Family3mos3MO
Exactly. I mean, hello, Real Estate Investment Trusts? They have been buying up every corner of the housing market and created monopolies in every single sector. Local, state and the federal government(s) need to stop this now or we'll all be homeless or captured and held hostage by them.
@LeftLaneJasmineSocialist3mos3MO
Taxes should scale exponentially with the number of units owned, specifically for single-family homes and townhomes.
I think that inflation is getting higher which is bad.
@ISIDEWITH3mos3MO
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