The cost of 'living' in America in anything but a cardboard box under an overpass is rising at its fastest rate in 8 years. Both overall "shelter" and "rent" inflation are running at their hottest pace of the 'recovery'... and this is happening as wage growth remains stagnant despite the promises that any minute now it will rise. Well done Janet...
Neofeudalism rules...
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Of course, we already knew this: [4]
[5]
And as to why this is a concern:
[6]
Which is why the market reacted the way it did, and pushed the USD promptly higher in a kneejerk reaction - because while the Fed is boxed in all other fronts, if Yellen is indeed worried about that most important concern to all Americans, namely affording the roof over their heads, then now is clearly the time to hike rates and prick the rental bubble before it gets so big, the primetime news are flooded with coverage of Americans sleeping under bridges because they can no longer afford rent (forget mortgage).
