where they occur is outrageously important to pay attention to rather than calling everything inflation when it's not.
general accepted today by professionals that anyone who bought property in the past five years will be underwater in them shortly. I tried to warn people but oh well.
We always agreed with these points. What we had previously argued on was not this; we always saw deflation in certain things. It turns out that's mainly why the CPI is such a crock (the feds emphasize those things but they are fairly insignificant).