Still, the fact is that real-estate inflation has returned to many parts of the country.
Commercial real estate inflation and deflation has occurred repeatedly since World War II.
Like cars, Broadway theater tickets and Hawaiian real estate, inflation insurance is on sale.
"Real-estate inflation is the tax that one portion of society – older, more affluent homeowners and corporate landowners in coastal areas – levies on the rest of society, especially younger, less affluent families," Mike Davis once wrote in "City of Quartz," a spatial history of Los Angeles.
Changes in credit access and faith in real estate inflation are producing the worst housing slump in modern history.
The rest goes to bonds, real estate, inflation-linked assets and cash.
For all of the money and opportunity that now exists where it did not before, there's a lot of domestic frustration about real-estate prices, inflation, minor but routine acts of injustice.
A shame, as the city and its surroundings have continued to undergone massive changes, and to be sclerotic and scintillating at the same time: congested freeways, massive real estate price inflation, absurd wealth on one side of the city and deprivation on the other, racial conflict and exhilarating cultural hybridity.
After the last generation left us promises of political corruption, economical turmoil, poor foreign affairs, explosive real estate pricing, inflation of currency, rising healthcare costs, and the absence of pensions, social security, and decent honest jobs, who would want go grow up in today's world?
You'll also want some real assets, which include real estate, Treasury inflation-protected securities, and commodities like gold, wheat or oil.
