Real estate still hedges inflation, but not through home prices
The article says U.S. home prices rose 1.1% over the year through May 2026 versus 3.4% inflation, so the inflation hedge in residential property is showing up in rent and fixed-rate debt, not the price index. It also says existing home sales are running near a 4.05 million annual rate, below a long-run norm closer to 5 million.
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