You can't compare RE vs equities as 1:1 substitutes for wealth building -- RE offers you 5-10x leverage on your capital, something hard to come by and a riskier proposition (generally) in equities.
You can get the leverage from a broker, it just comes with the liability of your loan getting called anytime for any reason. The preferred terms, as well as government subsidies on interest rates can make leverage for homes have a better ROI.