Wealth does not need to be liquid to be wealth. Particularly when that wealth is a claim to not to have to pay rent, the biggest single expense of nearly every

Wealth does not need to be liquid to be wealth. Particularly when that wealth is a claim to not to have to pay rent, the biggest single expense of nearly every non-home-owning household. The problem isn't that the wealth is illiquid. The problem is that housing wealth incentivizes behavior to turn housing into a zero-sum problem and thereby drive up the cost of housing, to the benefit of current homeowners at the express cost of all future generations and non-owning workers right now.