COMMERCIAL REAL ESTATE'S ECONOMIC ADVISORS

On-time rental payments in independently operated units dropped meaningfully in June 2025 — offering a stark warning about the financial health of renter households in a high-uncertainty economic environment.

CPI rose just 0.1% in May, indicating that disinflationary momentum persists despite concerns about potential cost pressures from tariffs.

On-time rental payments in units operated by independent landlords continued their recent trend line of improvement in April.

This is the second consecutive year that WFH rentals have dipped, following the peak of 5.0 million households in 2021.