, Columnist
Housing Headaches Are Shifting to the Rental Market
A return to normal means prices will be going up for apartment dwellers, adding to inflation and complicating the Fed's job.
That bargain apartment is going to cost you more next year.
Source: Bloomberg
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The past year has been a headache for would-be home buyers who dealt with quickly-rising prices and a shrinking number of options. That buyer squeeze now seems to be easing — and the housing headache is shifting to the rental market.
Rising vacancy rates during the pandemic led to stagnant or falling rents in many metro areas, but that's showing signs of reversing, creating problems for both renters and the Federal Reserve in the months to come.