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[Music] heres your money briefing for Thursday March 2nd Im J.R Whalen for the Wall Street Journal its not just single-family homes that saw an explosion in prices as the country emerged from the pandemic new leases on apartments also increased but now were seeing a softening of the rental market Wall Street Journal housing reporter Will Parker joins us with details hey well thanks very much for being with us thanks for having me so will we saw a steep run up in rents in the aftermath of the pandemic how much have they come down Reds have come down about 3.5 percent since the summer at least according to one measurement and thats a reprieve for renters but its important to keep in mind just how much rents Rose directly before that you had rents Rising something like 25 percent in less than two years before we started to see a little bit of a cooling more recently all right so theyve come down a bit but arent Rises and falls and rents normal they are and it is also somewhat sea