Not to mention, most if the wealth in a primary residence isn't really accessible/utilized. A house bought years ago might appreciate to the point you wouldn't

Not to mention, most if the wealth in a primary residence isn't really accessible/utilized. A house bought years ago might appreciate to the point you wouldn't be able to afford it today. But if you sell it, where else are you going to live unless moving to a cheaper area? Then you have people who are house poor vs rich people who live relatively modestly (eg Warren Buffet). And thats all in the US. Other countries/cultures may have different practices that do not tie wealth to large houses.