Both housing prices and rents are increasing across the U.S. at 10-15% annually but these trends are likely to reverse in the second half of this year. Long-term inflation rates are likely to continue ramping up given that the 30 mortgage rate already has increased at a record pace this year (up more than 1 ¾% in recent months). Disruption of supply chains is worsening as “globalization” is rapidly giving way to “localization” in manufacturing, energy, raw materials, and transportation. Soon “Stagflation” will become a part of the media narrative just as “inflation” could no longer be denied or ignored.