"E.g. If a house is $500,000 and the mean wage is $65,000 in 2011 and then in 2020, the same house is worth $600,000 and the mean wage is $100,000, has your house gone up? "
From an investment perspective who cares if the relative value in 10 years time is the same. One thing for sure is that the vast majority of the rents will be significantly higher than they are today and the property will be paying itself off. That is the huge advantage of investments like property as inflation can work in your favour.
