I agree! But the US only adds about 1% new dwellings each year. So I'd naively expect that 99% dwellings are existing housing stock and so might not to be sen

I agree! But the US only adds about 1% new dwellings each year. So I'd naively expect that 99% dwellings are existing housing stock and so might not to be sensitive to increased construction costs, because they've already been constructed. I was wondering if BLS might use a model of estimated replacement cost in their CPI estimate, incorporating construction costs, but from a quick skim read it doesn't sound like they do that. For estimating rental costs, they ask people how much rent they've paid this month: > “What was your total rental payment for this month for this unit? Include any extra charges for garage or parking facilities, but do not include direct payments by local, state or federal agencies.” +/- a lot of stuff about weighting that I didn't follow. https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-and-rent.htm https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-an...