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: ‘Peak inflation is not here yet’: Rents continue to rise, putting pressure on would-be homebuyers. That’s bad news for the Fed.

In the first half of 2022, rents increased by 5.4% nationwide, and by double-digit percentages in some major cities, Apartment List said

Rents in New York City are up 27% over the past year, Apartment List said.

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Rents will continue to rise, contributing to inflation, until the end of the year, economists say.

With home prices and mortgage rates this high, many prospective homeowners are choosing to rent longer, opting to wait it out until prices normalize. But rents are also increasing, helped along by a housing-supply shortage that’s hiking the cost of living for millions of Americans. The national median monthly asking rent even surpassed $2,000 for the first time in May, according to Redfin, 

That’s…

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