ANALYSIS: Rents in America are rising, helping push inflation to a 40-year-high. Goldman Sachs expects further rises as leases renew and the market has new demand.
said on Thursday . The pace was quicker than economists had expected, putting pressure on the Federal Reserve to raise interest rates.
However, there is a sense from Goldman Sachs analysts that rental costs will not get too far out of control. “A simple model suggests that the peak boost to the official CPI measure of shelter inflation should be fairly modest and occur shortly after a positive shock to new lease prices.” Mr Biden said his administration was “using every tool at our disposal” to try to curb inflation. “While today is a reminder that Americans’ budgets are being stretched in ways that create real stress at the kitchen table, there are also signs that we will make it through this challenge,” he said.For Mr Cutrera, the next few months are an opportunity for landlords to make some money.
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