1 There is an issue as to whether we should include the price of the land in the calculation of user cost, an issue which has important policy implications for the transmission mechanism of monetary policy in the case of Japan.
On the other hand, if we want "household monetary expenditure" to be reflected in the CPI, then the net acquisition method (in the sense of excluding the transaction of existing dwellings) may be preferred, since this treats the purchase of housing the same as for durable consumer goods.