> Its only the most expensive thing in most people's lives
For homeowners, it is the most expensive thing, but homeowners are winning on it because they get the value of the asset appreciating.
For non-homeowners, the reason CPI isn’t going up is that rents aren’t rising with purchase prices, its the purchase:rent ratio going up. So it isn’t hurting them, either.
but homeowners can't actually access that value because they would need to immediately use the money to buy another house. They don't let you continue to live in the house after you have sold it.
You could rent after selling. Or you could move to a cheaper market. Or you could downsize in your current market. There are of course many ways to access the value of the house.
For homeowners, it is the most expensive thing, but homeowners are winning on it because they get the value of the asset appreciating.
For non-homeowners, the reason CPI isn’t going up is that rents aren’t rising with purchase prices, its the purchase:rent ratio going up. So it isn’t hurting them, either.