Is real estate appreciation a myth? Adjusting for inflation

[Eric James]

One stated benefit of investing in real estate is price appreciation.  However, if you look at inflation adjusted real estate prices for the most part there isn't much appreciation.  There are specific points in time like 2006 (we know what followed that) and right now when real estate exceeds inflation adjusted prices. However,  over the long term it doesn't really appear that real estate appreciates much beyond inflation. Is real estate appreciation a myth?

https://www.supermoney.com/inf...