Herding Cats Around The ‘Immaculate Disinflation’
Traders and investors will get a welcome reprieve from top-tier US economic data in the new week.
Last week was a veritable run through the gauntlet. Day after exhausting day of relevant macro inputs ended in fittingly dramatic fashion with a payrolls beat so anomalous that it raised questions about the data even among serious observers.
Suffice to say the Fed's "higher for longer" narrative was bolstered by the jobs report, even as the soft landing crowd could take comfort in cooler-than-expe
My property tax bill came in at 189% above yesteryear (appeal to no avail). That puts next year’s shelter inflation for this homeowner on the south side of Chicago at a 20% y/y increase. Nice try Jerry
I would be very careful about owning any home where there is a high probability that the government will be (greedily) pushing to significantly increase real estate taxes.
I recently looked up the value of a home I used to own on Zillow, which was located in a north shore suburb within Cook County. Seventeen years after selling that home, the current Z estimate is about the same as what the home sold for in 2007, however, the annual real estate taxes have tripled. I then compared that 300% increase to the inflation rate from 2007 to 2023 was about 40%. I was not and still am not a fan of Cook County.