When you need to pony up an extra $100k for a down payment and your monthly payment goes up $300 for the next 30 years because real estate prices rise, is that not impairing your ability to consume other things?
It stinks that housing prices have gone up, but fortunately you can rent instead, which is accounted for in CPI measures of inflation.
I would think we could discuss the affordabity or unaffordability of homeownership without making up terms like "asset inflation" and falling into alternative fact rabbit holes about the collapse of U.S. currency.
Renting is not owning, and I question the utility of CPI’s method of measuring it that way.
My contention is increased real estate prices are affecting people’s lives in various ways, such as delaying families, not having families, moving people away from their networks, and at least allowing for a smaller portion of spending on other things in life due to a larger portion going into real estate.
Personally, I would label this asset inflation, but I don't know about the whole currency collapse thing.
I don't disagree with your main points but we have terms like Housing Affordability Index we can use to discuss this. We don't need to use imprecise terms like "asset inflation" which can mean different things to different people.
