Rents nationwide are skyrocketing to insane levels, and in some areas, theyve gone up more than 30% percent. Your weekly California real estate news digest. Train Derailment: NTSB Releases Prelim Report; Tesla to Make Global Engineering HQ in California . Copyright 2023 Sage Real Estate | The highest-rated multifamily brokerage in Long Beach, CA, in some areas, theyve gone up more than 30% percent, State of California to pass a series of rent control laws with AB-1482, U.S. Bureau of Labor Statistics as the Consumer Price Index, which have had rent control laws in place before AB 1482, published by the US Bureau of Labor Statistics, read our detailed step-by-step guide here. The Consumer Price Index (CPI) is a measures of the average change in prices over time in a fixed market basket of goods and services. Each month, prices are collected in 75 urban areas across the country from about 6,000 housing units and approximately 22,000 retail establishmentsdepartment stores, supermarkets, hospitals, filling stations, and other types of stores and service establishments. Alternatively, that relationship can also be expressed as the price of a base period market basket of goods and services rising from $100 to $107. Vidcast: 3 years later, Alameda Countys eviction moratorium to finally end, New winter storm emergency includes limits on rent increases, Court tentatively sides with city in restrictive interpretation of Costa-Hawkins. California is home to over 40 million people, and half of its population are renters. Approximately 70 million Americans will see a 5.9% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2022. Last month in March 2022, the rate of inflation was as high as 8.5%. These numbers are released by the Bureau of Labor Statistics. jQuery("label[for='tab2']").css({ top: '3px' }); Last Modified Date: Tuesday, February 14, 2023, Area prices were up 1.9 percent over the past month, up 5.8 percent from a year ago, Chart 1. The CPI is one of the most oft used techniques for measuring inflation all over the world, not just in the United States. A bump-up moment in California construction starts. Monthly Consumer Price Index (CPI) data published bytheBureau of Labor Statisticsis used tocalculate inflation rates. Please also be aware that there may be rent freezes due to COVID-19 in your city. These metros are popular with both homebuyers and renters due to the open spaces and room for growth, but rent is rising quickly far more quickly than recently passed legislation on rent caps ought to allow. Learn how California rent increase laws determine how much you can charge for your rental property so that you can balance market forces with rules and regulations. https:// ensures that you are connecting to the official website and that any
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