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Augustvscaesar.eth
@augustuscaesar
Shelter rose a whopping 5.7% to lead March Inflation to 3.5%! Fed cuts still coming. But inflation reacceleration is on the table.
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oliver
@oliverk120.eth
I am of two minds about shelter. On one hand, it's lagged and I saw some data earlier this year of more real-time indexes (e.g. zillow observed rent) showing a drop in costs (vs CPI)... but on the other hand, overall supply is still so constrained that it's hard to see it dropping thaat much in most geographies
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Augustvscaesar.eth
@augustuscaesar
Honestly, I expected this buck to be broken by now and it doesn’t look like it’s going anywhere. I think the only solution here is to cut mortgage rates. But then you run the risk of inflation running higher elsewhere.
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oliver
@oliverk120.eth
yeah.. i am for rate cuts almost regardless of what happens (even ignoring my bags). The biggest issue for shelter is that there's not enough supply... and the higher rates are, the more difficult it is to create now supply. Huge problem in Canada rn (where I am)
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Augustvscaesar.eth
@augustuscaesar
Incumbents say no new houses and higher property taxes because the former kills their home value and the latter raises it. I think there needs to be a Nationwide US (Where I am) & Canada bill where the Feds just incentivize home building. TBH. They thought the silent & boomer generation would be dead by now.
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