Home prices are misleading because real estate has become an inflation-proof place to store wealth, like stocks but with nuanced subsidies. Even homeowners who

Home prices are misleading because real estate has become an inflation-proof place to store wealth, like stocks but with nuanced subsidies. Even homeowners who live in the house are partially buying with the expectation to sell it for more later. Call it a bubble that never fully pops. In some less countries with higher inflation and less developed markets, this is so extreme that nobody really buys a house, only buys a piece or inherits. Better to look at rent, which isolates the utility part.