Home prices have been rising in the mid-to-high single digit rates of appreciation, depending upon the measurement. The median price of sold homes in the first half of the year was up 7%, the repeat-price index according to Federal Housing Finance Agency is approaching 6% recently, and the 20-metro Case-Shiller price index has been accelerating to 10% on an annualized measure over the past 5 months. These home price changes, however, are not part of the consumer price index. Home prices, like the stock and gold prices, are considered assets and are not included in the daily cost of living. What is included is what renters are forking over in rents and the corresponding derived measure of what homeowners would pay in rent to live in their homes (the homeowner equivalency rent). Rents rose by 3.6% in August, the fastest pace in 7 years. The homeowner equivalency rent rose by 3.0%, the fastest pace in 8 years. Both will rise further due to the simple facts that rental vacancy rates continue to fall across most parts of the country, and that jobs are being added to the economy.