Surveillance: Hawkish Fears with Morgan Stanley's Carpenter
Bloomberg Surveillance
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Are We Modeling Out Housing Inflation Correctly?
The way we measure housing inflation in the United States is not on home prices. The BLS's theory, if you will, is that they want to separate out homes as an asset versus the flow of housing services. I did a completely amateur apples to apples to onions analysis week and it approximated the rent increases from the pandemic beginning in New York City. But it ends up with a plug of a negative 12.5% over three or four years.
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