Inflation for Shelter and Wages - What Are You Watching?

Inflation is such a focus right now. We agree with our colleagues in the economics research department that we're going to see the flation for goods slowly abate and decrease, probably by the middle of the year. Shelter and wages are the aras where we think inflation will be a little bit more persistent. With higher home prices and with rates going up, which means mortgage rates will also go up. Afordability will decline. And so we think that brings supply and demand into balance, and we're not going to see same kind of price pressures.