[datadata]

Food is also essential. If housing appreciated at a constant rate against a commodity like wheat for example, eventually you would be able to sell a house for the entire global supply of wheat (assuming wheat supply grew slower) .

[baerrie]

Food in general is essential but not any one specific form of food. If wheat was the only food then I would agree. The same could be said for housing but housing in a particular location is mostly fixed and limited unlike the flow of food and other resources