Yep. I posted this article in March. Rents & equivalent housing costs are largely driving inflation in the aftermath of the Great Recession (and the Great Reflation pursued by the Fed) https://www.ft.com/content/219aaa52-4675-11e9-b168-96a37d002cd3 …https://twitter.com/AlisonB916/status/1171972752078585858 …
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Replying to @rcmoya84
So when our landlords get richer... our rents are adjusted for inflation and we have to pay more?!
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Replying to @sashaperigo @rcmoya84
when landlords get richer, and when homeowners get richer, and in general when housing gets more expensive we get fucked over yes
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housing prices are the biggest piece of overall inflation in America
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Replying to @uhshanti @peterjgowan and
nancy pelosi's endorsements guy 🌹 Retweeted nancy pelosi's endorsements guy 🌹
nancy pelosi's endorsements guy 🌹 added,
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Replying to @uhshanti @peterjgowan and
Except home prices haven’t been counted in CPI since 1983https://www.ft.com/content/8428d084-f3fc-11e8-938a-543765795f99 …
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Replying to @kimmaicutler @uhshanti and
Imputed rents on owner-occupied housing are though.
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Replying to @peterjgowan @kimmaicutler and
including the hilariously on-the-nose statement "Housing units are not in the CPI market basket. Like most other economic series, the CPI views housing units as capital (or investment) goods and not as consumption items." well there we are https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-and-rent.pdf …
1 reply 0 retweets 8 likes
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