Here are three takeaways from the recent National Rental Home Council Industry Leaders Conference, where our CEO John Burns was a featured speaker.
Thanks to higher interest rates, turmoil at regional banks, and slowing rent growth, sales of apartment buildings are falling at their fastest rate since the subprime-mortgage crisis, the Wall Street Journal reports.
Federal Reserve Chair Jerome Powell and his entire team should be cognizant of the fact that rents have been declining for many months. Despite this, Powell has been examining laggard data that persistently appears inflated.
Back in September, when looking at various leading rental market indicators, we reported that “Manhattan Apartment Rents Finally “Plateau” After Red-Hot Summer” a trend reversal that was also observed at the national level as we observed in “Nationwide Rents Drop For First Time In Two Years.”
As mentioned in a previous post, when I have looked at previous right to left, and left to right political swings, they seem to happen globally, and they seem to happen roughly at the same time. A global shift left happened in the 1930s, and kept shifting until 1970s, when it began to shift back to the right. We are now well into a shift back to the left, that began in 2016. As also highlighted, modern democracies are filled with checks and balances to slow political shifts, but they still happen.
It’s that time of the month again. The ‘most important’ CPI print in history, since the last ‘most important’ CPI print, is expected to show some moderation in October data (but remains at extremely high historical levels in both headline and core), and it did just that and then some:
Rising costs have chipped away at most Americans’ standard of living. As inflation pressures continue, two-thirds of working adults said they are worse off financially than they were a year ago, according to a recent report by Salary Finance.
Renting is at the highest level in half a century, with 43.7 million households renting. Population-adjusted numbers are another matter. But what does it mean?
A key component propping up consumer prices is cooling, but it’s not yet reflected in the government’s inflation measure, according to experts.
While the market’s volatility this week has been focused on UK pension funds and budgets and systemic risk, this morning’s US CPI print will likely determine the next leg from here with expectations for an acceleration in core inflation and small slowdown in headline growth of consumer prices.