You know you're getting close to peak and final progressive idiocy, when the 'most important "asset" class' is a simple commodity, whose inherent difficulty of provisioning was conclusively solved over a century ago. And which is today no more difficult to produce than a cheap polyester sweater!
Competent people can build houses for virtually nothing. (Good ones, too. Or at least decent ones. As opposed to the trash that gets passed of as "luxury villas" in Pac Heights and Bel Air.) And then, they can sell them by the millions to billions, for a few bucks more than that. Employing millions upon millions of other productives in the process.
But instead, by government fiat, intervention and threat of violence; and to the applause of a world wide mass of illiterate indoctrinates too dumb to find their own nose in a mirror image; "real estate" has been turned into a playground for a global clown army of undifferentiated uselessness and expendability. Who, as always given their inherent uselessness; never has, never will, contribute a lick of value to anyone nor anything.
Who have never built a house, never designed one, never designed nor improved upon a single component nor process than goes into building one. Nor designed, nor improved upon any whatsoever piece of infrastructure than goes into making house provisioning more efficient and simpler. (Not even non engineering ones. As idiots, by their very nature, prefer arbitrariness: Arbitrariness, stupidity and incompetence always go hand in hand, while non-arbitrariness requires at least a modicum of ability to think in abstract terms) IOW, never done anything at all related to actual provisioning of the goods produced by the "industry" they cluelessly insist they are somehow part of.
Instead acting solely as welfare recipients and useful idiot champions for an ever more invasive and extractive government. Cheering on it's every effort to extract ever more wealth and value add from their more competent betters.
In the process needlessly creating homelessness; crime; poor educational attainment for kids forced to live on top of each other; sickness from poor air quality; loss of productivity from lack of sleep due to noisiness as well as long commutes; excessive cost and compromised processes due to lack of access to more, realistic cost, space for productive enterprise; sclerotizised economies due to lack of labor and capital mobility etc., etc.
All for no other reason than to support the rent seeking of a bunch of abject nothings; too incompetent to feed themselves absent the massive, forced wealth transfers required to turn something so cheap, simple and solved as a roof, four walls and a handful of pipes and wires, into an "asset class" serving as no more than an obfuscation for crass, rampant, productivity, life quality and West-destroying (thank goodness for that...) theft. From the competent, for the benefit of connected not-sos.
