The Real Estate News Brief: September Inflation Reports, Rent-to-Income Hits 40%, 2024 Social Security COLA

In this Real Estate News Brief for the week ending October 13th, 2023... two September inflation reports, a big jump in the rent-to-income ratio, and the 2024 COLA for Social Security recipients. We begin with economic news from this past week. Two inflation reports are among the headlines. The Consumer Price Index, or CPI, was hotter-than-expected, mostly due to rising shelter costs and gas prices. The Labor Department reported a .4% increase in September. That's down from a .6% increase in August. The annual rate remained the same at 3.7%. The core rate omits food and energy, and was up.3% which is what economists had predicted. The annual core rate came down a bit from 4.3% to 4.1% which also met expectations... ...That's it for today. You can read more about the stories in this episode by following links in the show notes at newsforinvestors.com. And please remember to subscribe to this podcast, and leave a review! If you'd like to know more about how to build wealth that will last you a lifetime, please hit the "join now" button and become a member. It's free to join and free to access all the data we have on our website. You'll find hundreds of webinars, articles, and resources that can help get you started. That includes a free session with an investment counselor who can answer your questions. Thanks for listening! Kathy Fettke Links: 1 - https://www.marketwatch.com/story/headline-consumer-inflation-hotter-in-september-than-forecast-on-higher-shelter-costs-4074308a?mod=mw_latestnews 2 - https://www.marketwatch.com/story/headline-ppi-hits-2-2-over-past-year-ending-in-september-highest-in-five-months-ab274fc0?mod=search_headline 3 - https://www.marketwatch.com/story/feds-collins-says-rise-in-bond-yields-could-reduce-the-need-for-further-interest-rate-hikes-9a04a9ea?mod=economy-politics 4 - https://www.cnbc.com/2023/09/26/dimon-warns-that-fed-could-still-lift-interest-rates-sharply-from-here.html 5 - https://www.cnbc.com/2023/10/13/jpmorgan-chase-ceo-jamie-dimon-warns-this-is-the-most-dangerous-time-for-the-world-in-decades.html 6 - https://www.freddiemac.com/pmms 7 - https://www.corelogic.com/intelligence/us-rent-affordability-drops-lowest-level-decades/ 8 - https://www.marketwatch.com/story/social-securitys-cola-will-rise-3-2-in-2024-vs-8-7-in-2023-b7fc6ad7?mod=search_headline 9 - https://www.cnbc.com/2023/10/02/more-than-40percent-of-labor-force-to-be-impacted-by-ai-in-three-years-morgan-stanley-forecasts.html