12 Jul 2023 2:18 pm
Bruce » 11 Jul 2023, 7:54 pm » wrote: ↑ That’s accurate today.
The forecast is 3.1% year headline inflation to year, tomorrow.
Core inflation (excluding gas and food) remains sticky, about 4%.
Most of the reason inflation is not 2% is rent inflation.
My dead ancestors are watching me, or else I could more than double the rents on the three homes I inherited from them.
If it is a decent, clean, two or three bedroom home the new rental rates start at a thousand a month.
And why? Over a million people died from Covid, and they only need a small space in the graveyard.
The best theory I’ve head about why rentals doubled is, that Trump tossed out about four trillion dollars of borrowed money to fight Covid. Biden didn’t give away half that much, but quite a lot.
Young couples used that Covid spending on housing.
Biden pushes the inflation rate up and it slightly dips down and you are throwing a parade?
How about stop the spending and printing of money and get the inflation rate down to 1%.