It can be when borrowing terms are artificially loose.
Imagine a world in which you can get a zero-ish percent interest-only loan. The "value" can keep going up even though the monthly cost remains low until the end of the term at which point you sell to someone else for even more money at a zero-ish percent rate.
I don't understand your point at all. It seems to boil down to: "Something can be a good investment while simultaneously increasing in value at the rate of inflation if someone gives you free money to hold it."
Everything is a good investment if you pay nearly zero interest and its value goes up. It's a tautology, and it has no bearing on practical solutions to this problem.
Imagine a world in which you can get a zero-ish percent interest-only loan. The "value" can keep going up even though the monthly cost remains low until the end of the term at which point you sell to someone else for even more money at a zero-ish percent rate.