The government inflated the price of speculative assets (housing and stocks) using long-term low interest rates. They're now totally out of whack relative to consumer goods and wages.

Deflation causes defaults, the disproportionate wiping out of the wealth of the middle class (because mortgages are leveraged) and a financial crisis. Inflation, if done by printing money and giving it directly to individuals, reduces wealth inequality.

To get things back into alignment, your choices are: deflate the price of those assets, or inflate the price of everything else. Which do you choose?