Rents Drop BIG! - Who's Playing w/ Numbers? Why? - Election Time?

[Account Closed]

US Rents Just Tumbled The Most On Record As Economy Craters

What about the actual state of rents? For the answer we go to the latest monthly report from Apartment List which we have used consistently since early 2021, and where we find something stunning: rents just tumbled by the most on record!

As the AL blog writes in its latest monthly note, "the national index fell by 0.7 percent over the course of October, marking the second straight month-over-month decline, and the largest single month dip in the history of our index, going back to 2017."

[Mike Dymski]

Send it to Jerome.  If they keep going, they are going to overtighten and it may get ugly.  Going to be difficult to solve a supply side (labor/oil/materials) problem with a demand side solution.  The labor force is already down ~7 million (of 160 million total) workers due to extra early retirees, millions extra on disability, extra deaths, and no immigration for 1-2 years; so, companies have already taken unintended layoffs of 5%.