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A viral $16 McDonald’s meal won’t go away, and that’s a problem for Democrats | CNN Business (www.cnn.com)
submitted 2 years ago by to c/politics@hexbear.net
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[–] 6 points 2 years ago (14 children)

Inflation is coming down and what remains high is housing rent, but that too is showing signs of decline over the next few months.

I guarantee you that by election day 2024 Biden is going to win big. People who look at polls today and think that Trump even stands a chance, are in for a big surprise.

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  • [+] 30 points 2 years ago* (last edited 5 months ago) (5 children)
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  • [–] 23 points 2 years ago (2 children)

    Where is that graph someone posted that showed inflation rates falling but had that asterisk that excluded food, rent, (and basically everything else that matters most). Tl;dr inflation is down on all the stuff you can't afford anyway.

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  • [–] 3 points 2 years ago* (last edited 2 years ago) (1 child)

    This is wrong. The article you cited has data up until August 2023.

    Asking rent has been declining since September 2023: https://www.rent.com/research/average-rent-price-report/

    Bureau of Labor Statistics has a 12-month lag when it comes to housing price, which means that elevated rent is still counted in the CPI print. Expect to see CPI continues to fall over the next few months. The current round of inflation is over.

    All the right wing economists who predicted a scary recession throughout 2022 and 2023 were wrong.

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  • [–] 15 points 2 years ago (3 children)

    Never in the history of rent has rent gone down

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  • [–] 4 points 2 years ago*

    This isnt true. Covid caused a sharp drop. Before that the housing crash in 2008 did as well.

    The problem is that rent only went down on cataclysm. Otherwise, it just goes up.

    The further problem is that it likely wont go down much on cataclysm anymore, as investment firms snap up cheap housing and use third parties algorithms to do rent price fixing.

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  • [–] 1 point 2 years ago (1 child)

    I linked this article in another reply already: https://www.rent.com/research/average-rent-price-report/

    Asking rent has been declining since September 2023. New rental leases have lower rent than a year prior. But because the Bureau of Labor Statistics has a 12-month lag in housing price, the elevated rent is still being counted in the CPI print, but this will continue to drop when new rental leases are being counted over the next few months.

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