Phoenix led the nation in inflation in 2022, but rise may slow in 2023
Economist Dennis Hoffman and real estate expert Mark Stapp discuss factors impacting local inflation in the new year.
In this article published Jan. 3, 2023, on Cronkite News:
I think we're going to see inflation rates come down over the next year pretty dramatically.
– Dennis Hoffman, director of the L. William Seidman Institute and director of ASU's Office of the University Economist
The shelter component has been very difficult to come back down because of the amount of growth that we’ve had here and the lack of supply in ownership and rental housing.
– Mark Stapp, Fred E. Taylor Professor of Real Estate and executive director of the Master of Real Estate Development program
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