Workers priced out as rents soar in hot real estate market

In affluent Naples, the average rent for a two-bedroom apartment now tops $2,800, up nearly 60% from a year ago, according to listing site rent.com.

That's far from affordable.

• Sales slipped 0.7%
• Existing home sales 4 MM
• Median sales price $359,000 Up 1.3% from a year ago
• Inventory of unsold homes up from prior month
• More From the National Association of Realtors

"Generally speaking, food inflation has been the most stubborn of the categories," Walmart U.S. CEO John Furner told analysts and investors on the call.

While the 2022 wedding boom is now winding down, a survey of vendors found 77% are raising their prices this year because of inflation.