[darkerside]

Buying an asset that you anticipate increasing in demand is the definition of speculation (and you are correct if you point out that is what most people are doing on the stock market and crypto).

Investing is lending your money or other assets to an entity with an expectation that it will use those assets to generate more value.

One is increasing value in the world, and the other is riding coattails.

Also, I'm sure parent poster was suggesting taxing of real estate capital gains, not every dollar of every sale, and particularly not the initial sale by builder.