Damn, It Feels Good To Be A Landlord

An interesting note from the just-released personal income and spending report.

Rental income of persons increased $3.5 billion in February, compared with an increase of $3.2 billion in January.

In case you hadn’t heard, rent prices have been soaring, and it’s showing up in total rental income for the economy.

Have you seen this chart?


Photo: FRED

For a little more context, here’s a look at rental income compared to GDP, which is at multi-decade highs.


And of course, the surge in rental income helps explain this: Multi-family apartment construction is the hottest thing in town.


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