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Transcript 00:00:00 Intro Kathy Fettke [Speaker] In this Real Estate News Brief for the week ending July 31st, 2021… an inflation surprise for the Fed Chief, where single-family rents are growing the most, and a pet’s influence on home buying decisions. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. Economic News We begin with economic news from this past week. Fed Chief Jerome Powell uttered words that many economists had predicted -- inflation has risen higher and faster than he expected. But he still believes that prices will settle back down. As to when it will happen, he says that inflation will probably return closer to the central bank’s 2% mark in the next year… or so. There was “no” change to the Fed’s bond-buying strategy, or short-term interest rates. (1) The unemployment lines were a little shorter last week. Initial jobless claims were down 24,000 to 400,000. That’s after a surge that brought them to a two-month high. The previous increase was partially due to the shutdown of au