The CPI recorded another substantial drop in inflation, which should ease some financial burdens for renters and could act as a signal to the Federal Reserve Bank that interest rates need not increase any further. The resumption of student loan repayments this August could have a more direct impact on apartment demand, and three separate reports this week review the implications of student loan repayment on the multifamily market, housing, and the economy more broadly.
Link to sources discussed in this episode:
Bureau of Labor Statistics: “Consumer Price Index, June 2023” - https://www.bls.gov/news.release/cpi.nr0.htm
Federal Reserve Bank of New York: “Where Is Inflation Persistence Coming From?” - https://libertystreeteconomics.newyorkfed.org/2023/07/where-is-inflation-persistence-coming-from/
John Burns Research & Consulting: “Student Loan Restart Will Drag on Economy” - https://jbrec.com/insights/student-loan-restart-will-drag-on-economy/
Education Data Initiative: "Student Loan Debt Statistics" - https://educationdata.org/student-loan-debt-statistics
Moody's Analytics: "Resuming Student Loan Payments May Exacerbate Affordability Crisis and Pressure Retail Sector" - https://cre.moodysanalytics.com/insights/cre-news/resuming-student-loan-payments-may-exacerbate-affordability-crisis-and-pressure-retail-sector/
Fannie Mae: “Consumer Confidence in Housing May Have Plateaued” - https://www.fanniemae.com/research-and-insights/surveys-indices/national-housing-survey
RealPage: “Apartment Demand Rebounds as Rent Growth Further Cools” - https://www.realpage.com/analytics/us-apartment-demand-rebounds-2nd-quarter/
Apartment List: "National Rent Report, June 2023" - https://www.apartmentlist.com/research/national-rent-data
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DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest.
