No inverse relationship?
i.e. Australia’s land price inflation has been greater than that of the USA since 2013.
However, land price is of no concern to economists as a factor in currency devaluation, despite land just ‘being there’ and having no cost of production at all.
May Australia’s ridiculously high land prices explain the ‘need’ for the RBA to increase interest rates and the attendant increasing levels of mortgage stress?
It ain’t just all the things we list in our basket of consumer prices that generate inflation, folks. Land prices are our greatest contributor to the nation’s inflation!
Same ‘mystery’ solved of how escalating land prices have weakened the US dollar over time.
So, for good reason, the Oz dollar is even weaker!