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A hot rental market amid US housing shortage

Seattle, Portland, San Francisco
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High-interest rates have slowed inflation and cooled the housing market. While prices have started to fall, the median home price still ↑ 13.4% yearly to $416K in June. Many would-be homebuyers are being pushed into the highly competitive rental market, even as rents reach historic highs.The Fed also hopes to dampen inflation by encouraging homeowners to spend less money as their home's value declines.

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