A big issue with all this housing wealth is that it's fake. If a good business goes up 10x in value, it accomplishes that by providing more valuable goods and s

A big issue with all this housing wealth is that it's fake. If a good business goes up 10x in value, it accomplishes that by providing more valuable goods and services to people. If a house goes up 10x in value, that could only be achieved by ensuring supply grows slower than demand. The house didn't produce any net positive for society, actually the opposite. The owner is being rewarded for figuring out how to increase demand for their house while providing nothing in exchange to the broader world. It's a serious bug in capitalism that we call this "building wealth" it should be called "building scarcity". Might as well hoard bitcoins.