Real estate has generally gone up in tandem with currency debasement. You can see this if you plot real estate prices over monetary inflation.

This is not a bad thing per se. It means dollars stored in real estate have kept their purchasing power over time. If you borrowed dollars to buy real estate that's a pretty good deal because you've created an inflation hedge on the banks freshly printed money. Of course, your loan interest rates do play a role in this equation.

So strictly speaking, while real estate prices have gone up the 'value' of real estate has stayed relatively stable in purchasing power terms.