Easy peasy. People buy homes because they feel psychologically insecure and uncertain about being able to keep roof on their heads in the future. It never made

Easy peasy. People buy homes because they feel psychologically insecure and uncertain about being able to keep roof on their heads in the future. It never made sense as an investment apart from a short period in 1970s and even that because stock market was in shit then. Rich people know they face no risk of not being able to afford housing. So they put their money where the returns are.