[bitwise-evan]

> The average cost of housing has gone up over time, but this trend is mainly driven by the fact that modern houses are larger and built better than houses in the past.

Oh, that explains why the house that sold for $300k in 1990 sold today for $2M (only 3X adjusted for inflation). It must have gotten 3X larger and 3X better built, even though it is the exact same house with a couple extra layers of paint and a redone kitchen.