[trts]

Assets like housing and land have certain intrinsic value to them. The intrinsic value doesn't change because the amount of money circulating doubles, but the price of the asset in the inflated currency rises.

Since wealthy people hold more of their wealth in assets, this insulates them from inflation more than those who hold their wealth in savings or who live paycheck to paycheck and see their cost of living increase.

On paper it does reduce the burden of certain debts, but people on the lower socioeconomic end of the spectrum are often already paying debts at much higher or variable interest rates.

[machinebun]

It's a complicated relationship. The prices of assets are related to the price of debt (the cheaper the debt, the more expensive the asset). Housing is an asset that pays a coupon (rent), so it acts a bit like a bond. Bonds have been riding the coattails of decreasing interest rates for the last 40 years - if interest rates increase then stocks, houses, bonds etc are going to deflate.

While inflation with low interest rates might increase the value of assets - inflation that leads to higher interest rates might actually do the opposite. So it ends up being a choice of the central bank which way to push this thing (although there is a lean towards keeping interest rates lower for longer because of the size of the U.S. government debt interest payments)