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According to founder and real estate investing company CARROLL, his company has raised rents up to 30% over the past year. Of course, costs are going up as well. “So as our costs go up — our costs of interest, our costs of renovations, our cost of our employees,” Carroll told Fox Business. “We need to push those increases along through rent increase.” Because of rising property prices, renting has become the only option for a lot of people. “We are seeing a supply-demand imbalance,” he adds. “And now they have a lack of buyers because of mortgage rates. So, again, this has all kind of been a perfect storm for the multifamily business.” While it’s hard to say whether rent increases are sustainable, Carroll says that his company’s occupancy rates are at all-time high.

The stock market could be gearing up for new record highs before year-end as the 2022 bear market is over, Fundstrat’s Tom Lee just said. The biggest takeaway for me on events of this week? Convincing and arguably decisive evidence the ‘bottom is in’ — the 2022 bear market is over.” Lee’s confidence stems from the fact that between a negative GDP print, another 75-basis-point interest rate hike from the Fed, and more natural gas volatility due to Russia’s Nord Stream pipeline drama, a lot of bad news occurred this week and yet the S&P 500 and Nasdaq 100 managed to stage a 3% rally. “When bad news doesn’t take down markets, it is time for investors to assess.” In fact, despite a strong US dollar and heightened economic uncertainty, companies are reporting better-than-feared results. With 52% of the S&P 500 having reported second-quarter earnings already, 73% beat profit estimates by a median 7%.

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Meanwhile, investors will be closely monitoring July’s Nonfarm Payrolls print, with analysts estimating a slowdown in hiring, forecasting the addition of 250K jobs which would be the lowest since December of 2020, while the unemployment rate is expected to hold steady at 3.6%. Other important economic data include final S&P Global PMIs, ISM Manufacturing and Non-Manufacturing PMIs, exports, imports, JOLTS job openings, construction spending and factory orders. Finally, the earnings season continues with a slew of major companies reporting quarterly results, including Eli Lilly and Company (NYSE:LLY), Gilead Sciences Inc (NASDAQ:GILD), Uber Technologies Inc (NYSE:UBER), Caterpillar Inc (NYSE:CAT) and Amgen Inc (NASDAQ:AMGN).

Finally, Bitcoin gained 19% since the beginning of July, which caused the crypto’s Relative Strength Index to correct from 29% on July 1 to the 60% level as of press time. The momentum coming back into Bitcoin has caused the fear and green index measurement to improve slightly from “extreme fear” in June, measuring in at 11, to “fear” in July, measuring in at 39.

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