I never said no maintenance. Of course over 50-100 years you're putting ~0.5% / yr into it.
Real vs. nominal is important but it also applies to the largest cost which is interest. Interest at 7%, but inflation at 7%, means that loan is effectively free in real terms.
I agree there are better investments overall, but when you need to live somewhere, and in the case of looking to secure purchasing power in anticipation of extreme inflation... Better to rely on real goods. Otherwise, you're hoping the high volatility of gold and stocks coincides with your highly increased rent from other owners.
Real vs. nominal is important but it also applies to the largest cost which is interest. Interest at 7%, but inflation at 7%, means that loan is effectively free in real terms.
I agree there are better investments overall, but when you need to live somewhere, and in the case of looking to secure purchasing power in anticipation of extreme inflation... Better to rely on real goods. Otherwise, you're hoping the high volatility of gold and stocks coincides with your highly increased rent from other owners.