The Fed finally moved. First rate hike since 2023, and the vote was unanimous. In the latest Realpage Economy Express, Arben Skivjani, Deputy Chief Economist at Realpage, breaks down a 12-0 hike, an energy shock the Fed cannot reach, a consumer spending through it, and what it means for apartment demand.
Core CPI hit a 5-year low, yet headline inflation held at 3.4%. Retail sales jumped more than 1%, yet sentiment fell near a record low. And apartment starts dropped more than 20% just as mortgage rates touched 7%.
Watch the full episode below.