The only valid use for NFT I can think of is a pure vehicle for financial speculation. It's better people do wild speculation on NFTs than housing market.
There is functional value to NFT’s. Think beyond JPEG NFT’s. If you’re a software engineer, consider building a decentralized system with unique instances of a model. Unique tokens make a lot of sense to me and certainly there is utility to them. I agree that JPEG NFT’s are ridiculous though.
NFTs aren't even the best option for pure financial speculation, stocks are much better. At least there the money being gambled can be put towards something productive. Plus it's much better for the gambler. Random stocks don't routinely lose 99.999% of their value in a matter of months.