Rents included in the CPI.

The argument is that a house is an investment. I.e you sell it in the end. Investments aren’t included in the CPI.

I think that’s BS because investments increase in value due to inflation (and not just because of their inherent growth).

I get the difficulty of extracting the natural growth of the asset from the inflationary growth, but I also believe most of the 2008 monetary mass increase was shoveled into financial assets and this has to be considered.

that’s the gist of it.

I haven't crunched the numbers but so much of people's income goes to housing and housing prices vary so much that I think that would likely result in the outliers trashing any utility the index has.