The main goal of inflationary monetary policy is the shameless "maximum employment". Since the cost of manufactured goods will not go down (technological progress and fundamental economic optimization), in order for CPE to continue to rise then some other component must go up. The closest consumers get to new money creation is taking out loans for housing, therefore the price of housing goes up.
https://www.federalreserve.gov/faqs/economy_14400.htm
The main goal of inflationary monetary policy is the shameless "maximum employment". Since the cost of manufactured goods will not go down (technological progress and fundamental economic optimization), in order for CPE to continue to rise then some other component must go up. The closest consumers get to new money creation is taking out loans for housing, therefore the price of housing goes up.