Posted June 15, 2011 by RentJungle

"For all the attention given to almost $4-a-gallon gas, the biggest threat to containing inflation may be the shift away from homeownership, which is pushing up the cost of leases across the nationís 38 million rented residences.

Housing has become ďa contributor to inflation, and it continues to rise,íí agreed Bruce McCain, chief investment strategist at the private-banking unit of KeyCorp in Cleveland, with $22 billion in assets under management. McCain estimates that rents have accounted for about 1 percentage point of the last decadeís 2.4-percentage-point rise in prices."

 

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