Some economists have held out hope that inflation might be reaching or nearing a short-term peak.
The record run-up in home prices and rents exacerbated the affordable housing crisis in the US, and rising interest rates stand to make it even worse, according to c's annual State of the Nation's Housing Report released Wednesday.
With many people priced out of the market for houses and looking instead to rent, demand for apartments has sent rental rates beyond affordable levels. The national median home price jumped 14.8% in May from a year earlier to $407,600. That's an all-time high according to data to 1999, according to the National Association of Realtors.
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