[oceanplexian]

A good investment does not need to go up more than inflation, technically speaking.

If you’re using leverage and the cost of that leverage is lower than the cost of inflation (The case with US mortgage rates) you will come out ahead even if the property only keeps pace with inflation. Even if the interest rate on your debt is the same as inflation, mortgage payments are calculated using simple interest while inflation is compounding. That’s not even getting into taxes which can shift the calculus further in your favor.

Unfortunately, this can all be very non intuitive but RE is one of the best investments out there. You can’t get margin called, the government is heavily subsidizing the loans and there are endless protections (Can’t lose your primary residence in a bankruptcy, mortgage forbearance, etc ) you’d have to be crazy to rent if you have the option not to.