The problem is ultimately the fact that money is an infinite resource, therefore it's a poor store of value. Property is a more stable / smarter store of value because it's actually needed by everyone in life and is relatively finite (in that land is finite).

We've had unprecedented global quantitative easing over the past decade, so it's quite natural that house prices globally will meet and surpass all time highs.

This is what happens when you keep printing money and set precedents such as bank bail outs and debt write offs. If all money woes can be solved simply by printing money it begs the question why don't we just keep printing more? And the realisation soon hits home that if you were to do that, the price of everything would rise, the rich would get richer and they could simply hoard all land and property indefinitely while sucking every last cent out of people starting out in life...

It works up until the bit where people start getting angry and create a toxic environment in which nobody wants to live or do business...