Rent has finally stopped rising. It's great news for tenants and the economy.
"Rents are the primary metric used to measure homeowner costs, arguably making them the most important variable in the largest category of CPI," Parsons said."We're already seeing the benefits of slowing inflation in the rental market. It's just not showing up yet in the CPI."
In May, the CPI rose 4% year over year, for the smallest 12-month increase since March 2021, according to afrom the Bureau of Labor Statistics that was released on Tuesday. Despite a downturn in rents and home prices, housing costs were the largest contributor to inflation. That's because BLS data lags current economic conditions as it measures contract rents — what renters currently pay — and not spot rents, the amount renters would pay if they just signed a new lease.
However, while the CPI has yet to show significant changes in rental inflation, other indices that focus more on new leases are already showing year-over-year inflation coming way down.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
New renters paying an extra $500 a month in Toronto, Vancouver: CMHCRents paid by new renters in Toronto and Vancouver are on average $500 above rents for units occupied for more than a year. Read on.
Consulte Mais informação »
NYC renters could be spared costly broker fees under new City Council billBig Apple residents would no longer be forced to spend small fortunes on broker fees just to rent an apartment under new legislation being considered by the City Council.
Consulte Mais informação »
Indy Rent eviction-prevention program to temporarily pauseThe eviction-prevention program will stop taking applications temporarily at noon on June 26, according to a release.
Consulte Mais informação »
Tiny home community with ocean views boasts $650 rent, free Wi-Fi“I’m a minimalist at heart to begin with, so this made sense to me,” said Beth Nugent, a Tiny Tranquility resident.
Consulte Mais informação »
International Insider: Mission Possible; Submarine Tragedy; Cannes Lions RoarsGood afternoon Insiders, Max Goldbart here bringing you the latest from the world of international film and TV. Do read on. And sign up here if you haven’t already. Mission: Possible “M…
Consulte Mais informação »
Musk and Zuck squabbled while their rivals visited the White HouseWhile Musk and Zuck escalated their playground squabbles, the adults at Apple, Google, and Microsoft met Modi at the White House
Consulte Mais informação »