Over the past 25, or so years, it seems like the official Consumer Price Index has underestimated the cost of housing in the overall mix of inflation.
This falsely low inflation figure allowed more reckless spending, over those years. Large Republican based tax cuts, increases in military spending and the two wars in Afghanistan and Iraq. Much of this during Republican administrations; such as George Bush II and Donald Trump. Since inflation wasn't, supposedly, a problem the tax cuts and spending could go on without media noticing the consequences. High government debt less consequential, due to expanded money supply.
The consequences were things like housing costs going up, not noticed in the official numbers. Former presidents, especially Republicans, got off easy.