IANAE. Education and housing could both be considered assets (i.e. you put money in, then get it out again later, plus/minus some gain). Not that I'm implying t

IANAE. Education and housing could both be considered assets (i.e. you put money in, then get it out again later, plus/minus some gain). Not that I'm implying that either are currently a good investment, just that wrt to deflation, they should be thought of assets. I would assume that in a deflationary environment (with static wages) disposable income would increase, which would cause money to flow to assets, and push up their prices. Again, IANAE.