Japan, the world's second or third largest economy, has only recently seen R/E prices rise, for the first time in 14 years.
http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=CC6709DC-17A4-1130-F5E0AE3C3A6CB019
Something like that is not out of the question for some parts of the U.S.