It isn’t just the real estate; look at property taxes in 1973 vs today.
Excellent point. And school districts with voracious appetites for tax dollars. It is not at all uncommon to see school referendums of $50 to $100 million dollars for new, bigger, more grand school buildings with all the trimmings such as natatoriums, impressive performing art stages, athletic fields. All on the property tax role, and sold as a mere X cents per assessed thousand... which translates into an annual bump of $500 or more in property taxes per year. And they always want more, always, because it’s for the children.