Land prices are not included in inflation stats. The cost of carry is, as mortgage payments, however that is simply the cost of money. And rates are at all time lows.
The difference between 7% rates where your mortgage takes up most 50% of your wages and 2% rates where your mortgage takes up 50% of your wages is that it's far harder to pay off your mortgage in the latter case.
You cannot attain financial freedom. This means ultimately you cannot refuse to work, even if compensation is poor (low wages, stuck low).
There is inflation. It's being used to force us to work, and the precariat cannot bargain for more of their surplus value.
As I understand it, housing is included as rent or "imputed rent". But, this is the price people actually pay for housing and home owners have it locked in whenever they bought, which could be decades ago. So, inflation lags the market rate for housing.
Or in other words, many people aren't paying market rate and it brings the average down. This isn't what you experience if you need a place now, or bought recently. Inflation is an average and most people aren't average. (Just like nobody has 2.2 kids or whatever.)
No that's just the price it would cost you to rent it back to yourself. It's not the land price. So even if it tracked rent, by being marked to market, it still wouldn't reflect the additional money creation forcing land prices up.
Land prices are not included in inflation stats. The cost of carry is, as mortgage payments, however that is simply the cost of money. And rates are at all time lows.
The difference between 7% rates where your mortgage takes up most 50% of your wages and 2% rates where your mortgage takes up 50% of your wages is that it's far harder to pay off your mortgage in the latter case.
You cannot attain financial freedom. This means ultimately you cannot refuse to work, even if compensation is poor (low wages, stuck low).
There is inflation. It's being used to force us to work, and the precariat cannot bargain for more of their surplus value.