April 2026 Erdmann Housing Tracker Update
I’m still in wait-and-see mode. It will take time to find the new real rent trend as we work through the muddied inflation picture because of all of Trump’s chaos.
Core CPI inflation less shelter continues to move horizontally along the 2% growth path. Now, Shelter inflation is permanently past its elevated period, and the question is what side of neutral it is on. Is it still moving up, or will it start to correct back down.
Of course, the inflation indexes that include energy saw a big bump this month.
More below.
