I previously detailed that CPI may overstate inflation for an individual who:
- does not own a home
- would like to own a home
- will likely soon buy a home
as it does not include how "affordable" housing has become with the recent price collapse for non-homeowners (full details here).
As can be seen below, the Case-Shiller Price Index remained negative (year over year) as today's Case-Shiller release shows further deterioration, with the Composite 10 dropping over 16% year over year.