High Rents Force Tough Choices This Holiday Season, But Some Signs Point to Possible Rent Relief in 2023
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Rent prices are still high, meaning tough choices for some like giving up visiting family for the holidays to afford rent.
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Shelter costs have accounted for 70% of core inflation over the past year.
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There are some signs rents may be stabilizing, with prices dropping in September and October.
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Rent measures in CPI can seem outdated compared to real-time private rent indexes.
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Permit slowdowns suggest the cooldown in rents may be temporary, with possible upward price pressure in 2024.