Hedgeye's Director of Research Daryl Jones revealed that US housing supply is near 40+ year lows in today's Early Look.
This is about as tight of a housing market as we've seen, with 30-year mortgage rates remaining near 7%. This tight inventory will continue to put upward pressure on housing prices.
The Shelter component of CPI (comprising roughly 1/3 of headline) will likely continue to increase the odds of higher for longer inflation.
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