Devil's advocate: "actual ownership" is overrated in the same way that banks having a 100% reserve ratio is overrated. Mortgages form a low risk/return investm

Devil's advocate: "actual ownership" is overrated in the same way that banks having a 100% reserve ratio is overrated. Mortgages form a low risk/return investment (in theory anyway) which frees capital for medium risk/return investments, especially for young people who can benefit from the higher long term returns. Once they get old, they can transition their investments to low risk, such as mortgages as part of various investment funds. This makes capital more liquid and generally improves the efficiency of the economy (in theory anyway, if you ignore bad actors doing subprime mortgages/etc)