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Not seeing how that graph suggests shelter is the biggest story. Shelter looks linear since Feb 2021, but only caught up to pre-pandemic levels around Nov/Dec 2
by sixo 5y ago
Not seeing how that graph suggests shelter is the biggest story. Shelter looks linear since Feb 2021, but only caught up to pre-pandemic levels around Nov/Dec 2021, and while linear since then falls FAR behind energy, food, basically everything else incl the aggregate. A few months of linear shelter prices doesn't register as a meaningfully different trend than the rest of the basket that's been booming this winter, just that shelter would be more time delayed and smoothed0out due to leases coming up.
- jbay808 5y agoThe reason shelter is the biggest story is not because shelter inflation is leading the pack (of course it's not, so energy is grabbing all the attention!), but because shelter has so much inertia behind it, and couples so much more closely to interest rates than to supply chains and wars.