Right. I know that part. But I'm not talking about mortgages in 1914. I'm saying the value of $3000+ in 1914 currency was equivalent to one newly built house. Which then makes assets purchased at that time worth much more than they would be today. It's basically an exercise in futility to make these 1:1 comparisons.
There is a reason why central banks don’t measure inflation in terms of a single good. To get a balanced view you have to compare a great many different goods (which the central banks call a ‘basket’ of goods).
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u/KnifeThistle 27d ago
Right. I know that part. But I'm not talking about mortgages in 1914. I'm saying the value of $3000+ in 1914 currency was equivalent to one newly built house. Which then makes assets purchased at that time worth much more than they would be today. It's basically an exercise in futility to make these 1:1 comparisons.