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Housing costs swell, hampering home buyers and pushing up rents.

Housing And Homelessness,Economy And Jobs,Inflation,Banking And Finance,Housing Market

From the Left

Housing costs jumped last month, as higher prices continued to constrain aspiring home buyers and push up the demand for apartment and home leases.

Rent costs rose 0.4 percent in December, according to government data released on Wednesday, helping to drive the Consumer Price Index up 7 percent in the year through December.

Rent, along with โ€œownersโ€™ equivalent rentโ€ โ€” a measure that tries to put a price on how much homeowners would pay for housing if they hadnโ€™t purchased their home โ€” make up about a third of the index, so they are a key component of inflation.

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