I agree with everything you say except for one point: > none of which is owned by the average joe About 66% of US households "own" a home (often with a fixed-

I agree with everything you say except for one point: > none of which is owned by the average joe About 66% of US households "own" a home (often with a fixed-rate mortgage, which makes rising inflation doubly good for those homeowners) and 58% of homes are owner-occupied. The median Joe is a homeowner, not a renter.