[hoki]

>We do see inflation. But rather than inflated consumer prices, we see inflated asset prices as measured by historical valuations of stocks and record-low (or even negative) bond yields for example

Isn't, say rent, part of the "consumer prices" bit? If so, it is definitely tied to "asset price" of the said home.

[existencebox]

I don't want to make a concrete statement on this, I am not an economist, but I know enough of this debate to call out that there's dissent on if the way housing costs are calculated into CPI ends up reflecting the actual costs of obtaining stable housing. ("owner occupied rents" or "imputed rents" are some relevant concepts)