Economics
Americans Expect Record Jump in House Prices, Rent in Fed Survey
- Rent growth expectations rose for 5th month in N.Y. Fed study
- Consumers see sustained inflation over the next three years
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Expectations for growth in U.S. home prices and rents over the coming year rose to the highest levels on record in the latest monthly consumer survey by the Federal Reserve Bank of New York.
The median expectation for house prices was an increase of 5.5%, according to the Survey of Consumer Expectations published on Monday. The series hit a low of zero a year earlier during the early weeks of the pandemic. The rise was strongest in the South and Northeast, and was broad-based across age, education and income groups.