According to Zumper, national rent growth has accelerated to nearly 5% for 2 bedroom units.
And the expected change in rent over the next 12 months is 9.5%.
On the homeownership side, the two month change in consumer home buying attitudes has plunged to the lowest on record.
Of course, national home price growth (ignored directly in the inflation numbers) is 13.16% YoY according to Case-Shiller.
Rent growth is highest away from traditional mega coastal cities like Seattle, San Francisco, Boston and New York City, and is highest in interior cities like Spokane WA, Gilbert AZ, Knoxville TN, Durham NC, and … Cleveland???
The Federal Reserve thinks they are fixing a hole in the economy, but they are creating inflation.