The Real Estate News Brief: Inflation Report Shows Progress, Recession Forecast for New Year, Where Investor Sales Are Booming

In this Real Estate News Brief for the final two weeks of 2023... you’ll hear the results of the last inflation report along with a few predictions for 2024 and some surprising data on the number of investors buying real estate in the Dallas area.   We begin with a report on the Personal Consumption Expenditures index which is the Fed’s favorite inflation gauge. It shows the PCE dipped .1% in November for an annual rate of 2.6%. The core rate went in the opposite direction with a .1% increase for an annual rate of 3.2%. The core rate eliminates prices for food and gas. If you look at the data for “just” the last six months, the core rate was just 1.9% which is below the Fed’s target rate. Economist Andrew Hunter told CNBC: “Adding in the further sharp slowdown in rent inflation still in the pipeline, it’s hard to see any credible reason why the annual inflation rate won’t also return to the 2% target over the coming months.”...   That’s it for today. You can read more about the stories in this episode by following links in the show notes at newsforinvestors.com. I suggest that you also sign up for a free RealWealth membership to learn more about how to invest in real estate. And please remember to subscribe to this podcast, and leave a review!   Thanks for listening! Kathy Fettke   Links:   1 - https://www.cnbc.com/2023/12/22/pce-inflation-november-2023-.html   2 - https://www.calculatedriskblog.com/2023/12/pce-measure-of-shelter-slows-to-67-yoy.html   3 - https://www.cnbc.com/2023/12/26/sp-case-shiller-october-home-prices-post-biggest-gain-of-2023.html   4 - https://www.marketwatch.com/story/jobless-claims-rise-for-second-straight-week-09add036?mod=search_headline   5 - https://www.marketwatch.com/story/pending-home-sales-flat-in-november-despite-drop-in-mortgage-rates-11e23e17?mod=search_headline   6 - https://www.freddiemac.com/pmms   7 - https://www.mortgagenewsdaily.com/markets/mortgage-rates-12292023   8 - https://www.cnbc.com/2023/12/26/the-us-avoided-a-recession-in-2023-whats-the-outlook-for-2024.html   9 - https://therealdeal.com/texas/dallas/2023/12/29/investors-behind-nearly-a-third-of-dallas-area-home-buys/