4 ms·
Bls rent probably is buffered out by areas of low economic growth and mobility so you don’t see big city rents represented well
by rdtwo 5y ago
Bls rent probably is buffered out by areas of low economic growth and mobility so you don’t see big city rents represented well
- gruez 5y agoLet's try the top 3 metropolitan areas in the US then. New York-Newark-Jersey City: down 0.2% YOY Los Angeles area: up 0.8% YOY Chicago-Naperville-Elgin: up 2.9% YOY all figures from https://www.bls.gov/regions/subjects/consumer-price-indexes.htm https://www.bls.gov/regions/subjects/consumer-price-indexes....
- pessimizer 5y agoI think it's more like rents for wealthy people went up, because wealthy people took no income hit during covid. So not only did rents continue to rise as usual for them, but they lost competition at the low end from the less wealthy spending beyond their means. I'd expect to see rents bifurcate. Without the huge stimulus, I'd have expected asset prices to have raced up, too, as the stock market failed. By wealthy, I mean top 10-15% of salaries, not any of the definitions that people in the top 10-15% of salaries cook up to make themselves seem working class.
- silisili 5y agoI think person you're replying to has it backwards. The big metros are where people are leaving. Look at rent and housing prices in any mid size city. Take Knoxville, or Orlando, or Louisville, or KC.