Author: Swapna Venugopal Ramaswamy, USA TODAY

The reason for the slower pace of growth is attributable to broad trends across the rental industry, including new inventory.

Buyers who are in the market have not been dissuaded by higher mortgage rates. They are more concerned about being able to find a home to buy.

The increased number and severity of wildfires increase has led to a sharp rise in insurers’ decisions not to renew policies in California.

The number of people leaving the Golden State for Texas has grown by 36% between 2016 and 2021.

82% of those surveyed believe the country is facing an unprecedented housing affordability crisis.

The CPI program collects rent data from each rental unit every six months since rents are locked in place for a given lease term.

In a fast changing, volatile housing market, the CPI report can seem outdated compared to private indexes that look at current leases.

Rent again was the biggest driver of inflation, though the increase has slowed somewhat.

Inflation and young shoppers are the biggest drivers of the trend, which is now cool and fun to hunt the “best dupes” on certain items.

Affordability trends in the coming months will depend on mortgage rates and the supply and demand dynamics fueling nominal house price appreciation.