![]() ![]() Jerome Powell noted this reality in his speech, and reaffirmed his plan to “hope for the best, plan for the worst.” Right now, the market appears to be bracing for the worst. Accordingly, with obscene surges in property values of late, this may take some time. That’s because rents tend to lag behind housing prices. The thing is, for shelter inflation to come down, housing prices generally have to come down first. New homebuyers, or renters looking to pay someone else’s mortgage, will see their costs go up over time. Interestingly, the higher the Federal Reserve raises its benchmark interest rate, the higher mortgage costs tend to appreciate. ![]() Much of this has to do with higher prices, but also higher mortgage rates, which are the result of Fed tightening. Whether we’re talking detached homes, condos or rental apartments, costs are skyrocketing. Most homeowners, and renters for that matter, have noticed that prices are going up. That’s because housing costs to homeowners and renters can vary substantially, and this variation makes measuring the true housing cost for individuals difficult. This attempts to measure what, in theory, a given house would rent for on the overall market. Instead of measuring the absolute price increases of the median home price across the country, a measure called “owners equivalent rent” is used. The consumer price index factors in shelter inflation in an interesting fashion. Let’s dive more into what shelter inflation is and why it matters so much. This is a notable reality, considering it’s not as visible a daily reflection of inflation as filling up every week. Accordingly, how housing costs change over time means a great deal more than gasoline prices. It’s generally the biggest-ticket item on most households’ spending budgets. Well, housing costs account for roughly one-third of the overall CPI index. However, higher-than-expected shelter inflation led to a small - but symbolic - uptick in this key metric. With gasoline and fuel costs declining substantially, many had priced in a CPI reduction during the most recent report. Shelter inflation, or the effect of shelter costs on the overall CPI, has driven a great deal of the recent moves in CPI. Indeed, his comments around shelter inflation have raised investor eyebrows, as consumer price index ( CPI) numbers have continued to come in hot. That’s mostly because comments from Fed Chairman Jerome Powell were more hawkish than expected. Yesterday’s announced move, which was generally expected by the market, still drove stocks lower. Any Change in reservation date or shelter will result in a $10.00 fee.The third consecutive 75-basis-point (0.75%) interest rate hike by the Federal Reserve is in the rearview mirror. Also, the Kids Zone Playground is also a NON-TOBACCO use facility this also includes within 20 feet of the entrance. The use of Tobacco products is prohibited within 20 feet of the main entrance, doors or gates. Alameda Pool is a NON-TOBACCO use Facility. A new application is needed every rental. Click on the event tab on the page, click special event, Diamond Park/Alameda Park Reservations. ![]() If you are unsure if you need to fill out this application, please call and talk to the park office at 72. ![]() You may lose your deposit by not seeking approval for outside vendors, additional tents and entertainment, or soliciting an event. You will need to have the special event permit filled out. These shelter rentals are for picnics, any other events needed special approval. If you are having an event at your location that requires more approval you must fill out the special event permit and hand it into the park office. Any failure to comply with the County Ordinance 2018-01. The shelter should be left the way it was when you arrived. All trash MUST be placed in the containers provided 3. All tables MUST be returned to their original position, 2. In order for the Security Deposit to be refunded the following requirements must be met: 1. A $100.00 Security Deposit is required and will be held until after your rental of the Carousel Shelter. GLASS CONTAINERS (of any kind) ARE NOT PERMITTED IN ALAMEDA PARK. CONSUMPTION OF ALCOHOL is prohibited in the park without a Butler County Alcohol Permit on display. Tables must be returned to their original position. The Butler County Parks and Recreation Department has a NO-REFUND policy in effect for all shelter rentals. Water and Electric services are not guaranteed. The renter acknowledges that the group agrees to comply with all the Parks and Recreation Department's rules and ordinances. Any further information may be obtained by contacting the Alameda Park Office at (724) 284-5383 from 9:00 AM to 4:00 PM Monday thru Friday. Please help us keep Alameda Park clean by placing your trash in the receptacles provided. Note: Butler County Parks and Recreation Policies The Alameda Park Hours are from 9:00 AM to 9:00 PM. ![]()
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