[pas]

hailing housing as an investment leads to the hazard of too big to fail, when too many people have it as their only asset.

there are regional trends that can make it a great investment, and the secular trend of urbanization (and the growing US population, and growing economy) also help, but almost all of the growth in prices is due to very harmful shortsighted policy, and the circumstance of the move to near zero interest rate.

[KingMachiavelli]

I completely agree. It's just we are already at the point of it being too big to fail - you can just look at the housing market during COVID compared to 2008 to see that we've doubled down on housing as a speculative asset.