The explosion of short-term rentals has exacerbated the city’s housing crisis.

Today’s inflation report showed that both the rent and owner-equivalent rent indexes rose 0.8% in December.

There was a huge surge in demand early in the pandemic. That has cooled down dramatically, and in some areas, demand is starting to be met.

Migration shifts due to the pandemic are among the factors that have contributed to price fluctuations in the rental market.