09/10/2026
USA: Why ‘Price Stability’ Is a Myth
There’s a popular idea out there that the US should aim for ‘price stability’—but when you look closer, it’s clear that the reality is much more complex. For example, as we’ve all seen with technology, prices for certain goods can fall dramatically (think about how supercomputers have become the smartphones in our pockets), but that doesn’t mean everything gets cheaper. In fact, while tech has become more affordable, experiences like hotel stays, sports events, and even tuition have only grown more expensive. The reason? Our spending shifts as new options and priorities emerge. Countless global transactions set these prices, not just central policies. The argument goes that if the dollar were more stable, investments currently hedging against inflation could flow into other areas, which might lower prices in some markets but drive up costs for more sought-after items even further. In real estate, I see firsthand how changing prices often reflect progress and shifting demand, not just decline or instability. The bottom line: lasting price stability is a myth, and evolving prices are part of a dynamic, growing economy.