Now imagine a world where house prices remained the same or went down in value. Does it matter? of course it does.
Actually, you are mistaken (no surprise there)
Let's suppose there is a commodity, which can readily be bought and sold on the open market.
Everybody needs one. Everybody has one. Almost always, people who have one keep it for many years, and only sell it when they buy another.
Suppose for some reason you need to sell one, and buy another.
On Monday they both cost £1.
On Tuesday they both cost £2
On Wednesday they both cost 75p
On each of those days, you need one, and you have one.
If you view a house as a home for living in, fluctuations are of little importance.
Of course, if you are a speculator,buying tomatoes in the hope of reselling them at a higher price, you would like the price of tomatoes to constantly rise. Same with gold, or oil.
Any if one commodity ceases its constant rise, you stop speculating on that, and start speculating on something else.
You have no Minerva-given right make profits of infinite value and for an infinite period based on your belief that tomatoes must forever increase in value.
This is not "unfair" or based on hatred of tomato speculators.
Asset price inflation is not a good thing.
