Unfortunately the same could be said of the stock market. When it comes to financial planning for retirement or longer financial stability, one can choose between real estate or the stock market (among other choices).
I think the real issue with property ownership is having some reasonable limits and regulations. 1) no foreign investments in certain home types, 2) a cap/limit on the properties owned by any individuals (or LLCs they are associated with), and most importantly a complete ban on corporations owning residential properties.
Sure we could transition into removing real estate as an investment vehicle, but unfortunately I really can’t see a realistic path to this.