I bought a house, not because I wanted an investment, but I wanted a place to live. Fuck the CCP, but man were they on the money saying “Houses are for living in,” their current, ironic, housing bubble aside. Houses are homes. You want an investment vehicle, buy stocks or bonds.
If the people who see housing as an investment are outweighed by the people who simply want an affordable home as a right, it’s become an unsustainable and unjust privilege and needs to be rectified.
Also, I think this ignores the larger factors of: poor zoning due to NIMBY-friendly policies at the local level, and corporate greed as companies, not people, buy up supply. Solve these two problems and we don’t have to pick between housing as a right and housing as an investment.