> Real Estate isn't a regulatory trap; it's an information trap.

No -- you're confusing real estate sales with real estate. Real estate is one of the most highly regulated industries out there. You literally can't make any significant changes to most properties without a significant permitting process that goes through many layers of regulations. Not to mention the many real estate developments that are never even a possibility because of regulation. I'm not against regulation -- it can be a very good thing -- but it is clearly at the core of the real estate problem. Society has decided, via regulations, to starve the supply of housing.