[pessimizer]

Housing prices rose with inflation for 400 years, and after 2000 suddenly started hockey-stick growth. Unless you think the quality and size of housing that people demanded only radically changed within the past 20 years, your theory is lacking for me.

I sometimes put a footnote in when I mention that house prices haven't changed in "400 years" because the records are from the Netherlands, but in your case that makes them more relevant.