This is a narration of Radix's weekly Rent and Operating Trends report. Following another increase in annual inflation, economic prospects for 2022 have dampened significantly. The annualized CPI increased 9.1% in June, the highest price jump in more than 40 years. As a result, many forecasters now believe that inflation will remain persistent for some time. According to David Solomon, CEO of Goldman Sachs, inflation is deeply embedded into our economy and volatility is likely to remain through at least the end of this year. While the job market remains strong, with nearly 400,000 new jobs added across a wide variety of sectors in June, companies are beginning to tighten hiring as the expectation of a recession increases. The Fed will likely raise short-term rates 75 or 100 basis points next week, and all signs point to additional increases until inflation begins to cool. Tune in to find out more information on multifamily during the week of July 17.
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