For now - do you think 7+% CPI inflation is going to persist for 2, 3, or 5 years? What if the Fed manages to tame the beast and we go back down to our average

For now - do you think 7+% CPI inflation is going to persist for 2, 3, or 5 years? What if the Fed manages to tame the beast and we go back down to our average 2% inflation we had for the prior decade? If you're going long on persistent inflation than go buy TIPS, I know I did as a hedge while the rest of my money is going into 1-year treasury bills because things are going to get crazy volatile as the fed funds rate continues to hike. Buying housing in a rising rate environment is playing chicken, as rates go up affordability goes down and so does the value of the home. That's the fundamentals in a normal market, at least, because ultimately mortgage payments have to come from wages somehow. I wouldn't buy something banking on the crazy appreciation train continuing at this stage.