I agree with point 2 and 3 you are making. As another commenter already pointed out real estate prices going up is not a net gain for the economy. Moreover, the

I agree with point 2 and 3 you are making. As another commenter already pointed out real estate prices going up is not a net gain for the economy. Moreover, the direction of the price movement will (also) be decided by the state of the local economy which inturn drives the demand. Real estate prices in Houston, for example, may plummet because a major driver of the Houston economy is the oil and gas industry. Some companies and businesses may successfully transition to the low carbon economy, but it is unclear at this point how most may be affected.