Yes agree, its another manipulated asset class like gold or equities. Governments restrict supply though zoning, regulations and red tape nonsense. There is a shit ton of land and no reason for houses to be 10-13x average annual salary (talking Sydney, Australia here). It's a basic fkn human need (shelter) and should only be valued for it's utility and not as a saving mechanism. First it was gold > bonds > stocks and now real estate. The fiat standard has been creating ongoing malinvestments and bubbles in most asset classes since we left the gold standard.