Well that is what people have been doing for decades - its not sustainable - as we're seeing now.
Buying an asset that produces a negative return is not 'investing' its speculating on a capital gain - absent the capital gain (which is unsustainable in the long term) its a disaster waiting to happen.
When the price of an consumer item, and thats all a house is, increases at a rate greater than wages sooner or later, and given the power of compounding interest its gonna be sooner, no one can afford it anymore and the price crashes back down to where its affordable again. This process has merely been pushed back by easy credit to the point where the price re set will be more spectacular and more economically damaging short to medium term.
You can thank your elected governments of the last 30 years for the policy settings that led to this madness.