[jonfw]

Housing prices aren't a measure of inflation. The average size of a house has gone up, the average quality of a home has gone up. Houses have more appliances, air/cooling, and electronics which increases pricing. They aren't making any more land, and our population is increasing, so naturally land prices will rise.

If you were able track housing prices of equivalent homes and adjust for land scarcity from population- you'd have a much stronger metric. Without that context it's hardly relevant.