People think housing prices are too high. No! The value of the dollar has greatly gone down. As the spending value of the dollar decreases, investors put the money into housing in order to retain value. Where else can you preserve your earned wealth?
I have cash in banks and credit unions. I've watched as the dollar eroded in value due to idiotic government overspending causing inflation that exceeded any earned interest from the banked savings. So I shifted cash into real estate that will go to my children when I pass. Real estate prices will continue to increase, despite small decrease blips, and will not "crash" (short of destruction of our nation).
Sounds like confirmation bias to me. Opinions, we all have them. Good luck.
It’s true that wealth can be stored in real property. But not free of charge. Various gov’ts. want a [likely significantly increasing] portion of your stored wealth in the form of yearly property taxes. And if you sell at a profit, they want more of your stored wealth.