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MARKETS

High Inflation? Blame Housing.

One indicator the Federal Reserve watches closely when planning—or delaying—interest rate cuts is housing costs. And the more stable rental rates become compared to home prices, the more upward pressure builds behind the inflation indicators the Fed relies on. 

Here’s how home prices complicate the Fed’s interest rate plans:

• The Fed uses a calculation called “homeowners’ equivalent rent” to determine how much owning a home affects inflation. They do this by comparing what individuals pay for ownership to what they would pay if they rented the same place.

• While the U.S. focuses on rental equivalent costs, other countries might include actual homeowner expenses like mortgage interest and maintenance costs in their calculations. This difference can make it tricky for the Fed to compare and manage inflation effectively.

• There's often a lag between real-time market changes in housing prices and how these changes show up in inflation data. This delay can slow down the Fed's ability to adjust interest rates quickly in response to current economic conditions. This means that even if housing prices start to stabilize, the inflation data the Fed uses might not reflect this change immediately.

REC ROUNDUP

The Friday Five

📖 Score a deal. See the top 10 cities where prices are dropping—giving buyers and investors a new edge.

👀 Palm Beach Playboy. You won’t believe what the Playboy Mansion investor paid for his newest luxury property.

👀 Viva Las Vegas. With this mega sale, Vegas comes in at #8 in last week’s top real estate transactions.  

💡When the house isn’t a fit. How to tell your client to keep looking, without losing the deal. 

💡Real Estate Report. Why LA is going hostile on hostels.

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