I don't think this is true. Housing has basically been around 50% of total wealth for the past 50 years or so. Check out Pikettys capital in the 21st century for far more details.
there is a clear point at which one might start thinking about real estate as investment (and it sure looks bubbly). if you bought a house as an investments some decades ago it is not much of an investment and basically a loss inflation-adjusted, no?
While I can’t speak to which one of you is correct I think it’s worth pointing out that 50 years ago only pushes into 5 of the 30 years that they referred to. I can’t imagine it would’ve jumped to 50% overnight in that change but I still thought it was worth mentioning.
