This will come as news to Bill Gates, Larry Ellison, Warren Buffett, Mark Zuckerberg, etc., etc., etc. Real private property is NOT the dominant form of wealth in the U.S. today. Nor is it immune to confiscation through expropriate taxation or regulation.
Warren Buffet is probably the third largest holder of real estate in the country. The Catholics and the LDS probably have him beat, but all of the wealthy have a significant portion of their wealth in real properties.
Real property is the basis of wealth, not because the rich own it, bu because it is the basis of all production. No amount of fiat money can change that.