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Stronger Than Expected Rental Inflation

US DATA
  • OER: 0.50% M/M in Nov vs analyst average 0.41% (range 0.34-0.46%) after 0.41% M/M in Oct, pushing back closer to the surprise push higher to 0.56% in Sep.
  • Primary rents: 0.48% M/M in Nov vs analyst average 0.41% (range 0.35-0.50%) after 0.50% M/M in Oct and having averaged 0.5% through Aug-Oct.

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