You know that inflation is down, but not out. And if you aren’t sure inflation is still a problem, try buying a house. Prices for houses just reached new all-time highs, despite the higher interest rates. Aarthi Swaminathan reports in MarketWatch:
Home prices in the 20 biggest U.S. metros rose for the 10th consecutive month, hitting a record high, due to a low number of home listings.
The S&P CoreLogic Case-Shiller 20-city house price index rose 0.1% in November compared to the previous month.
Home prices in the 20 major U.S. metro markets were up 5.4% in the last 12 months ending in November.
A broader measure of home prices, the national index, rose 0.2% in November and was also up 5.1% over the past year. All numbers are seasonally adjusted.
The 20-city and the national index are at an all-time high.
Action Line: You can see the persistent rise in home prices on my chart of the 20-City Composite Index below. Inflation doesn’t just happen at the grocery store. It’s everywhere money flows. That’s why you need to become an inflation dodger and invest accordingly. When you want help, let’s talk. In the meantime, click here to subscribe to my free monthly Survive & Thrive letter.