While Zillow's monthly index shows rental growth peaked months ago, it isn't what the Federal Reserve is tracking to gauge inflation, explains Schwab's Kevin...
A look at Zillow Group’s closely followed rent index shows that last year’s roughly 17% yearly surge in rental prices was probably the peak, with the rate of increases dramatically receding in the past six months.
The trend might give renters moving to a new city more breathing room or someone a better shot at affording a place on their own. But here’s why a cooling rental market, evidenced by Zillow Z metrics or others like it, won’t have a ton of sway with the Federal Reserve in its fight against inflation. Zillow, however, relies on monthly changes in listing prices of rental properties, as do others that rent properties or track the data. That’s why Zillow’s metrics show a retreat in growth, even though CPI has been climbing.
Indeed, instead of retreating as expected, CPI for August shocked Wall Street by rising to a 8.3% annual rate, propelled by increases in shelter, food and medical care costs. The climbing shelter component suggests homeowners have yet to feel the sting of lower property values, even through the housing market boom has fizzled in the face of increased borrowing costs.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gulf, Egypt stocks tumble on global growth worriesGulf markets and Egyptian stocks sharply declined on Sunday as global economic growth woes kept oil prices under pressure and pushed investors away from the region.
Weiterlesen »
Scott D. Pierce: Networks’ new fall shows aren’t great, which isn’t good for local stations“I’ve been writing about the broadcast networks’ new fall shows since 1990, and never have I been less excited about the lineup than I am right now,” says Scott D. Pierce.
Weiterlesen »
Stablecoin Economy Growth Stagnates for 73 Days, USDC Market Cap Slides 5% Lower – Altcoins Bitcoin NewsDuring the last 73 days, the stablecoin economy’s net value has stagnated seeing little growth since Terra’s UST fallout.
Weiterlesen »
California job market: layoffs and unemployment rate tick upwardsEven though job growth is positive in California, that growth has slowed significantly.
Weiterlesen »
Post Malone Gives Update After Suffering Dramatic Fall OnstagePost Malone is doing better now -- after falling onstage during his show on Saturday.
Weiterlesen »
Rapper Post Malone takes tumble on stage at St. Louis concertWhile he was singing “Circles,' the rapper tumbled and fell flat on the stage.
Weiterlesen »