[chewz]

I agree with your arguments.

But there is another asset class beside real estate - arable land. People see gold as store of value which is false to some degree - gold was historically more of mean of exchange (of landed wealth) while the universal asset class paying regular dividends since Roman Empire until Industrial Revolution was arable land. And to a degree still is but since Industrial Revolution there are many alternative assets available that provide better/competitive returns (like government bonds)

Of course land could also be taken away but that happens very rarely (Communist revolutions in Russia, China, Central Europe). Historically land-owning class is stable. For example in largest wealth grabs in European history (Burgundians in France, Vandals in North Africa and best of all Norman conquest of Britain) there was generally sharing and mixing between old and new land-owners.

[matkoniecz]

Yes, that should be less fragile than flats/buildings and even more resistant.

As a city dweller posting on internet I somehow missed arable land in a comment about good stores of capital. Go me!

Despite that my cousin owns large farm. Staying for so long in my family that it was located in 5 countries since my family moved into that specific location.

But still, it is not a magic pixie dust: your land can be confiscated, or taken by sea/river or polluted by industry/salt.

Or it may be turned into wetland/desert by some other external changes beyond your control.