Not every country works the same, coming from a place with low home ownership (40%, mostly in countryside). Some ideas of what can be different: - lower flexi

Not every country works the same, coming from a place with low home ownership (40%, mostly in countryside). Some ideas of what can be different: - lower flexibility (non liquid and concentrated investment) - many people will end up with majority of their savings in real estate instead of more productive part of the economy (companies, etc.) - might discourage people from seeking opportunities elsewhere if there's a high cost of selling/buying houses - in cities institutional owners (here a lot of buildings are owned by pension funds) can take a better care of multi family buildings (compared to a fragmented ownership where some owners might block even value preserving investment), it's also easier to mandate policies (e.g. better isolation, etc) for those institutional owners