[quote=CA renter] This is why I hate asset price inflation. It doesn’t affect wages or payments based on CPI, it only makes the wealty even wealthier.
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I would also add that it causes misallocations of capital (eg, the production of vast tracts of Riverside housing as a result of overpriced housing, to name one in a long line of examples). This is a huge negative for the productivity and long-term prosperity of the economy.
