The U.S. inflation rate was 8.2% in September. This is a slight drop from the 8.3% rate in August but more than the 8.1% economists were forecasting for the month.
At the same time, the average median house price declined to $389,500 in August, compared to a high of $413,800 in June. But the median house price is still higher than a year ago.
Over the years, real estate has been promoted as a hedge against inflation. But how can that be true when housing prices are declining? Is real estate really an inflation hedge?