Here is the "Home Price Index," the index of house prices in the USA.

On this graph, it's easy to see when real estate prices are disconnected from official inflation figures.

From 1971 onwards (the definitive abandonment of the gold standard), a series of speculative bubbles followed by crashes appear (2008 being the most significant).

Moreover, in 2025, we are at a RECORD level, which suggests that we are in an even worse bubble than the previous one.