{"id":4072,"date":"2022-10-21T02:51:19","date_gmt":"2022-10-21T02:51:19","guid":{"rendered":"https:\/\/imsfund.com\/?p=4072"},"modified":"2022-10-21T02:51:19","modified_gmt":"2022-10-21T02:51:19","slug":"no-one-seems-to-agree-on-whats-caused-inflation-thats-a-big-problem","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2022\/10\/21\/no-one-seems-to-agree-on-whats-caused-inflation-thats-a-big-problem\/","title":{"rendered":"No One Seems To Agree On What&#8217;s Caused Inflation\u2014That&#8217;s A Big Problem"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\"><button class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<h2 class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In this article<\/h2>\n<p><\/button><\/p>\n<\/section>\n<p><span data-preserver-spaces=\"true\">The Fed\u2019s most recent increase to the federal funds rate has driven mortgage rates to their\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.freddiemac.com\/pmms\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">highest level since 2002<\/span><\/a><span data-preserver-spaces=\"true\">. That was the goal\u2014to increase the cost of borrowing to slow down the economy, which is still surging post-pandemic. So why are prices still\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bls.gov\/cpi\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">8.2%<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0higher than they were last year?\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Pent-up demand and increased national debt are only partially to blame for inflation. Global supply chain issues and\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.weforum.org\/agenda\/2022\/09\/inflation-rising-food-energy-prices-economy\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">rising energy prices<\/span><\/a><span data-preserver-spaces=\"true\">, which the Fed can\u2019t control, are also contributing. And other potential factors are up for debate among economists.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">When the Fed began pushing up the federal funds rate, there were worries the central bank had taken too long to act. Some\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.latimes.com\/business\/story\/2022-09-26\/hiltzik-column-fed-rate-increases-risk-job-losses\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">experts say<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0the rate hikes are too aggressive and happening too quickly, as the full impact of the increases haven\u2019t been realized yet. Other experts say the Fed\u2019s actions simply\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.theguardian.com\/business\/2022\/oct\/16\/us-inflation-federal-reserve-interest-rate-hikes\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">won\u2019t work<\/span><\/a><span data-preserver-spaces=\"true\">. Meanwhile, workers are already\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/mortgage-rates-october-13-2022\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">feeling the pain<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0of higher rents and unaffordable mortgages. But even if experts could agree on the primary driver of inflation, they don\u2019t seem to have any solutions that could actually work.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Are High Corporate Profit Margins Driving Inflation?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Competition in the market typically prevents companies from overcharging consumers. But in recent decades, most U.S. industries have become\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/academic.oup.com\/rof\/article\/23\/4\/697\/5477414?login=false\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">more concentrated<\/span><\/a><span data-preserver-spaces=\"true\">. Corporations can raise prices with little fear that other businesses can offer the same products for less\u2014and it is the corporations with the largest market share and\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.mecep.org\/wp-content\/uploads\/2022\/06\/Feeling-the-Pinch-Inflation-and-corporate-consolidation.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">most power<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that are currently raising prices the most. Many\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/groundworkcollaborative.org\/news\/brookings-and-epi-agree-rising-corporate-profits-are-driving-inflation-leaving-workers-behind\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">economists are saying<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that corporations are taking advantage of the current inflationary environment by raising prices above and beyond what they would need to account for the rising costs of materials and wages.\u00a0\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">A\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.epi.org\/blog\/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">report<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from the Economic Policy Institute revealed that, between April 2020 and December 2021, 54% of price increases in the nonfinancial corporate sector went toward corporate profits, while just 8% went toward increasing wages. That\u2019s a sharp reversal from the period between 1979 and 2019 and seems to dampen the argument that\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.cnn.com\/2022\/08\/22\/perspectives\/inflation-corporate-profits-labor-costs\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">labor costs are to blame for inflation<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">One example of what appears to be corporate greed is the profit margins in the meat-processing industry, which is having a major impact on the cost of groceries. The four biggest companies in the industry reported a 120% increase in gross profits at the end of 2021 compared to before the pandemic. The CEO of Hormel Foods\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/endcorporateprofiteering.org\/hormel\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">announced<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that the company would continue to increase prices, even though its operating income had increased 19% year-over-year as of the first quarter of 2022, in part because of its pricing power.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Those who agree that corporate greed is a significant driver, which includes economists from\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.brookings.edu\/research\/profits-and-the-pandemic-as-shareholder-wealth-soared-workers-were-left-behind\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">The Brookings Institution<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0and\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/rooseveltinstitute.org\/publications\/why-market-power-matters-for-inflation\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">The Roosevelt Institute<\/span><\/a><span data-preserver-spaces=\"true\">, contend that policy decisions should attempt to control it, such as increasing taxes on windfall corporate profits. But some argue that it\u2019s boosted profit margins\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.economist.com\/finance-and-economics\/2022\/08\/30\/vast-corporate-profits-are-delaying-an-american-recession\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">protecting the U.S. economy<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from a recession.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">There are also a few problems with the argument that fatter margins are driving inflation, according to other experts. The first is that corporations don\u2019t need an excuse to be greedy. They will always charge the highest prices that the market will allow. When demand is high, and supply is low, it allows corporations to charge higher prices. Increased profit margins are, therefore, a result of inflation, not a cause. Corporations aren\u2019t being especially greedy now, just as they weren\u2019t being kind to consumers with their pricing when inflation was low.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Similarly, monopolies were around before the pandemic, a\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/knowledge.wharton.upenn.edu\/article\/why-corporate-greed-isnt-driving-inflation\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Wharton professor argues<\/span><\/a><span data-preserver-spaces=\"true\">. Oil and gas companies lost billions during the pandemic, revealing how susceptible even consolidated industries are to market conditions. Now, they\u2019re profiting as a result of higher demand.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Furthermore, inflation is higher in certain high-demand industries (like used cars and major appliances). Some economists are wondering why haven\u2019t we seen an equivalent rise in prices across the board if corporate greed is a primary driver, as it\u2019s unlikely companies in certain industries are greedier than others.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Analysts at the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/libertystreeteconomics.newyorkfed.org\/2022\/07\/do-corporate-profits-increase-when-inflation-increases\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">New York Fed<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0also point out there\u2019s nothing historically unusual about the current relationship between corporate profits and inflation and that gross profit margins don\u2019t account for sales, general, and administrative costs. As this debate rages on, many businesses are faced with higher costs that cut into their profits, and net earnings\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/apnews.com\/article\/inflation-earnings-prices-corporate-profits-ff61f43dfac2617a9448759b31683e96\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">are now falling<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0for the S&amp;P 500 when excluding energy companies.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">If fatter profit margins are contributing to inflation, they likely represent one of many factors affecting prices. In any case, most economists\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.igmchicago.org\/surveys\/price-gouging-2\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">do not support<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0the idea of legislation to control price gouging during a market shock. Historically,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.chicagotribune.com\/news\/ct-xpm-2007-06-07-0706061080-story.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">price controls<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0have had negative consequences\u2014for example, attempts to cap gas prices in the 1970s led to gas shortages and long lines at the tank.\u00a0\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Are Trump-Era Tariffs Contributing to Inflation?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Economists\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/taxfoundation.org\/tariffs-trump-trade-war\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">tend to agree<\/span><\/a><span data-preserver-spaces=\"true\">, based on historical evidence, that taxes on imports and exports decrease economic output and real wages. Though the intent of a tariff is to protect domestic jobs and increase revenue, it typically has the opposite effect.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">If another country can produce goods in a specific industry cheaper than the U.S., it might hurt employment in that industry. But if Americans can buy those goods for less, they have more spending power in general, which increases employment in other industries. Furthermore, when another nation\u2019s profits from exports increase, the response is inevitably to spend more money on goods from the U.S. Free trade without tariffs results in a rise in U.S. revenue, employment, and real wages.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On the other hand, tariffs act as a tax on consumers by raising domestic prices. Plus, trade partners often retaliate with tariffs on exports from the United States. The Tax Foundation estimates that the latest trade war cost American consumers\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/taxfoundation.org\/tariffs-trump-trade-war\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">nearly $80 billion<\/span><\/a><span data-preserver-spaces=\"true\">. But there\u2019s debate about the size of the impact on inflation.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">U.S. tariffs on Chinese goods raised the consumer price index by 0.26 percentage points, so it seems removing them would have a minimal impact. But there\u2019s also the indirect result of U.S. companies competing to reduce the cost of goods\u2014perhaps reducing corporate profits in order to offer lower prices than foreign competition\u2014which could eventually reduce the CPI by a full percentage point, according to the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.piie.com\/blogs\/realtime-economic-issues-watch\/fight-inflation-cutting-tariffs-china-only-start\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Peterson Institute for International Economics<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">But the Economic Policy Institute\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.epi.org\/blog\/tariff-increases-did-not-cause-inflation-and-their-removal-would-undermine-domestic-supply-chains\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">contends<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that the timing is off for the tariffs to be considered a primary driver of inflation and that removing the tariffs could harm key industries during a global supply chain crisis.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The causes of inflation are many and varied. It remains to be seen whether the Fed\u2019s tools alone can tame the economy. A multi-pronged approach is more likely what\u2019s needed. But often, attempts to manipulate the economy have side effects, and as the disagreement among economists reveals, it\u2019s difficult to know which interventions are justified.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">The Impact of Inflation on the Housing Market and Investors<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Whatever the primary cause of inflation may be, it has created an affordability crisis for prospective homebuyers. It\u2019s not just that mortgage rates continue to creep up as the Fed raises the federal funds rate. Wages have also not increased enough to keep pace with inflation, and rising rents, groceries, and gas prices make it more difficult to save. And the volatile stock market has made American retirement and investment accounts less viable resources for purchasing real estate.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Yet most economists\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.forbes.com\/advisor\/mortgages\/real-estate\/will-housing-market-crash\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">don\u2019t expect a housing crash<\/span><\/a><span data-preserver-spaces=\"true\">, even as <a href=\"https:\/\/www.biggerpockets.com\/blog\/these-housing-markets-are-cooling-the-fastest\" target=\"_blank\" rel=\"noreferrer noopener\">prices cool in many markets<\/a>. Prices are still higher than they were a year ago. There hasn\u2019t been an increase in the supply of available homes or new housing starts. At the same time, Gen Z is approaching the typical age to pursue homeownership more financially prepared than millennials, so experts think demand will stay elevated or even increase. And current borrowers are much less likely to default than their peers who were approved prior to the 2008 crisis.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">It may be possible for corrections in housing prices to offset the higher mortgage rates. But current home prices, along with steep rates at a\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/mortgage-rates-october-13-2022\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">20-year high<\/span><\/a><span data-preserver-spaces=\"true\">, are making it difficult for new investors who count on financing to break into real estate. If the right deal comes along and the numbers work, most experts think you shouldn\u2019t be deterred by worries of an impending housing market crash. But in the meantime, bolster your savings and consider passive cash investments in real estate. Ultimately, having a diverse portfolio of real estate and other investments will offer you the best protection going into a recession.\u00a0<\/span><\/p>\n<div class=\"wp-container-1 wp-block-group border border-gray-200 p-6 rounded-md has-slate-50-background-color has-background\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-group__inner-container\">\n<h3 class=\"has-text-align-left mt-0\"><strong>On The Market is presented by Fundrise<\/strong><\/h3>\n<figure class=\"wp-block-image size-large is-resized\"><picture class=\"wp-image-142373 sp-no-webp\" title=\"No One Seems To Agree On What's Caused Inflation\u2014That's A Big Problem 2\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-1024x252.webp 1024w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-300x74.webp 300w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-768x189.webp 768w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black.webp 1380w\" sizes=\"(max-width: 256px) 100vw, 256px\" type=\"image\/webp\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-1024x252.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-300x74.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-768x189.png 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black.png 1380w\" sizes=\"(max-width: 256px) 100vw, 256px\" type=\"image\/png\"><img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-1024x252.png\" loading=\"lazy\" class=\"wp-image-142373 sp-no-webp\" title=\"No One Seems To Agree On What's Caused Inflation\u2014That's A Big Problem 2\" alt=\"Fundrise logo horizontal fullcolor black\" height=\"63\" width=\"256\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-1024x252.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-300x74.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black-768x189.png 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/Fundrise-logo-horizontal-fullcolor-black.png 1380w\" sizes=\"auto, (max-width: 256px) 100vw, 256px\"\/><\/source><\/source><\/picture><\/figure>\n<p class=\"mb-0\" style=\"font-size:16px\"><strong>Fundrise is revolutionizing how you invest in real estate.<\/strong><\/p>\n<p class=\"mt-0 has-slate-600-color has-text-color\" style=\"font-size:16px\">With direct-access to high-quality real estate investments, Fundrise allows you to build, manage, and grow a portfolio at the touch of a button. Combining innovation with expertise, Fundrise maximizes your long-term return potential and has quickly become America\u2019s largest direct-to-investor real estate investing platform.<\/p>\n<p><a href=\"https:\/\/t.sidekickopen84.com\/s3t\/c\/5\/f18dQhb0S7kF8cpngfW16gy-_59hl3kW7_k2841CX6NGN35Qwt3rN_mgW56Jw3w1HcgXpf197v5Y04?te=W3R5hFj26QkH2W4hJTY63T3pkxW3Fbt5S3Cdl5cf49M_4s04&amp;si=8000000019411002&amp;pi=6988e0ed-1aea-4af5-9769-8a0de4675eeb\" the=\"\" market=\"\" blog=\"\" sponsor=\"\" click=\"\" referrer:=\"\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\" rel=\"noopener\">Learn more about Fundrise<\/a>\n<\/div>\n<\/div>\n<p class=\"italic\"><b>Note By BiggerPockets:<\/b> These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.<\/p>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/no-one-agrees-on-whats-caused-inflation\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article The Fed\u2019s most recent increase to the federal funds rate has driven mortgage rates to their\u00a0highest level since 2002. That was the goal\u2014to increase the cost of borrowing to slow down the economy, which is still surging post-pandemic. So why are prices still\u00a08.2%\u00a0higher than they were last year?\u00a0 Pent-up demand and increased [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":4073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/10\/inflation-causes-1024x517.jpg","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-4072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/4072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=4072"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/4072\/revisions"}],"predecessor-version":[{"id":4074,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/4072\/revisions\/4074"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/4073"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=4072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=4072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=4072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}