Inflation , Housing Prices, Is there some form of the CPI that can include Home Prices? I understand why we don't include real estate in the CPI. It makes sense, when it is explained to me. I also understand Rent is included in the CPI.

However? I live in Canada . Our Populations Household Debt to Disposable income has been rapidly rising. Our real estate prices in urban centers have also been going up in value very quickly. We have very low interest rates. I also know this same effect is happening in Australia, and I believe Hong Kong.

To me this shows there is a correlation between household debt and rising home prices. 

To me this extreme of rising house prices clearly is an example of too much cash chasing too few goods ( houses ).  

https://tradingeconomics.com/canada/housing-index

https://tradingeconomics.com/canada/households-debt-to-income

Is there a better calculation that may include some form of rising/falling real estate prices into a consumer price index to show inflation? &lt;-- this is my question

I've also noticed that if you take the median total household income in the Province of BC and you use it in a Canadian Bank mortgage calculator, there is no way a person could afford any home in the Vancouver Region, and the majority of the population lives in Vancouver. So clearly there is a disconnect.
House price increases lead to increases in wealth for homeowners and increases in rental payments for renters. Thus, unlike for consumer products of the CPI like vegetables, milk, cheese, meat, or toothpaste for which the welfare impact of the increase of the price is clearly negative, the welfare impact of house price increases is ambiguous. In many countries the homeownership rate is greater than 50%, hence the median household tends to experience pretty significant increases in wealth in hot markets.