- Financial Survival Network
- Posts
- Why I’m Skeptical of Powell’s Claim Red-Hot Rent CPI Will Just Vanish: Landlords Report the Opposite, Even for April
Why I’m Skeptical of Powell’s Claim Red-Hot Rent CPI Will Just Vanish: Landlords Report the Opposite, Even for April
by Wolf Richter Wolf Street
High demand by renters of choice trying to outwait the housing turmoil pushes up actual rents in a range of 6% to 8%.
Landlords and tenants are throwing a bucket of cold water on hopes that rent inflation will back off – it just doesn’t seem to be happening.
These reports have been coming in from the largest landlords of single-family houses and from multifamily landlords. The largest landlords of single-family houses are publicly traded, and so they report operational details, such as actual rent increases for lease renewals for newly executed leases on a same-house basis. The apartment data is based on millions of actual transactions, renewals and new leases.