7.9% annual inflation number from February - get used to it

The red-hot housing market, which has made the $1 million home the norm in many parts of the country and has shown no sign of slowing. 

Housing inventories are at record lows; supply chain bottlenecks are preventing new homes from coming to market quickly; and the coming of age of millennials have all fueled a boom that won’t abate soon.

Home prices aren’t a direct part of CPI, the government does measure “shelter” costs through rents and something called owners’ equivalent rent — essentially a survey-informed assessment of how much homeowners think they could rent their home for. 

OER is about a quarter of the consumer price index by weight, and perhaps unsurprisingly, it is a lagging indicator. 

I look forward to all the great Ph.D. theses that will inevitably be written about what started the worst inflation in 40 years. But for the moment, most analyses lead to the same conclusion: Inflation isn’t leaving soon

Jonathan Levin Bloomberg 10 mars 2022

https://www.bloomberg.com/opinion/articles/2022-03-10/cpi-report-elevated-inflation-settles-in-for-the-long-run

U.S. has experienced only subtle declines in household wealth, especially compared with the size of the increases that preceded them. 

A theoretical U.S. homeowner with a $100,000 stock and bond portfolio and a $250,000 home purchased in 2019 would still have about 79% more wealth than they started with less than three years ago.

Jonathan Levin Bloomberg 26 april 2022  

https://www.bloomberg.com/opinion/articles/2022-04-26/stocks-join-inflation-fight-that-housing-resists