How do people in countries with very high inflation make big purchases (house, car etc.)?

Question

Thinking Argentina or Turkey in the recent years – if the local inflation is so severe that the price of grocery in the morning vs evening (on the same day) is different, how do people make large purchases like a house or a car? How is the price determined and who would provide the long term financing?

In: Economics

Answer 1

In Chile, real estate and large business transactions are done in Unidad de Fomento, which is designed to hold a steady value with low inflation regardless of fluctuations in the peso.