higher energy, food, healthcare leaves less to spend on housing so I can’t see housing prices increasing based on that..they should infact decrease.
The reason housing prices went up wildly was due to speculation and extremely loose lending. If you give financing to someone with no job, no credit and to top it all not require any downpayment they will not only take the loan but will outbid everyone else. What have they got to lose? Nothing! Money has no value to them because it’s credit and they didn’t earn it.