July 11, 2019
Rent continues to be a serious problem area. While the story varies hugely across cities, with some actually seeing slower rates of rental inflation, the rent proper index rose by 0.4 percent in June, bringing its increase over the last year to 3.9 percent. The owners’ equivalent rent (OER) index rose by 0.3 percent in June and is up by 3.4 percent over the last year. It seems that there may be some modest increase in the rate of rental inflation, with the annualized rate of inflation in the OER in the second quarter compared with the first quarter coming in at 3.8 percent. For more, see the latest Prices Byte.