Assets being overvalued is a different thing from inflation. It's true that the cost of housing is up, but that's also borne out in rents. It's true that most p

Assets being overvalued is a different thing from inflation. It's true that the cost of housing is up, but that's also borne out in rents. It's true that most people are homeowners, but the quantity actually included in inflation statistics is "owner's equivalent rent." House prices acquiring a premium over and above rent on comparable properties is not inflation.