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and literally every asset class exploded. Isn't this the very definition of inflation...? Another view would be that money is simply losing value. a million is

• repsilat 7y ago
  That holds for houses, but most inflation measures index housing on rent, not house price, possibly to account for the sensitivity of house prices to interest rates. From another angle, look at consumer goods a year ago compared to today. This year you can get a better car/tv/phone/computer for the same price, or the same one for less. Isn't that the very definition of deflation? Another view is that money is simply gaining in value -- a thousand bucks is worth a lot more than it once was :-). (Funnily enough, I'd agree with you at a million because of house prices, and at a hundred because of food, haircuts, clothing etc. 1k-100k is weirdly different though.)
  • internet_user 7y ago
    prices of "houses" is really mostly land. the replacement of the building itself is a very small fraction in most in-demand locations. So yes, land went up. All other examples you are citing are depreciating, non-scare items. It's not that it's "better" or anything, but we can make way more of iphones/etc. However, there is only one Switzerland and only one Manhattan.