> I am saying real estate can be a good investment even if it doesn’t go up more than inflation. Do you disagree?
Yes I think so. You need rents to escalate faster than maintenance costs (which are tied to inflation closely) for this to be a good trade. So again - for rent to become relatively less affordable over time.
It sounds like you are not considering rental income (the argument I made in my original comment). You only need growth of rental income to exceed growth of cost for it to be profitable to be a landlord. Am I incorrect?
Yes I think so. You need rents to escalate faster than maintenance costs (which are tied to inflation closely) for this to be a good trade. So again - for rent to become relatively less affordable over time.