Yup. And even if you view housing as an investment and even if you create policies in favor of that, in the long run, you're not going to have greater gains anyways because the growth is not sustainable. Long run, housing always has to revert to a mean increase equivalent to incomes/inflation, even if in the short term you might have a huge run up. In the short term there can be a huge run up causing great pain, but after that it'll come back to it's income/inflation rate increase.