In this clip from today’s edition of The Macro Show, Hedgeye Financials & Housing analyst Josh Steiner hits on housing prices; why they’ll continue to appreciate for the next few years, and critically, why that’ll keep CPI elevated as home prices flow through via Shelter CPI (33% of the CPI calculation.)
"Millennials are getting into their prime-home buying age. And there’s supply constraints – inventory is at all-time lows. And demand is going to be relentless for the next few years. All of that will keep home price appreciation running very hot for a long time (which will flow through into inflation)."
