At least one Nobel prize-winning economist has noted that home ownership is not all that it's made out to be.

https://www.bloomberg.com/news/articles/2013-10-15/the-econo...

Just flip it around, would plummeting housing prices benefit homeowners with a mortgage? No, that's a disaster (see the 2007 housing crash). Borrowing, especially at the extreme low rates, on an appreciating asset is great, paying debt on a depreciating asset is a nightmare.

Flip what around? A mortgage doesn’t give you the benefits of being wealthy. Whether the market is good or bad. Anyway, the point is moot as the parent report shows the top 10% also own 41% of the houses, so the initial argument stands that the wealthy are benefiting the most.