I thought postwar America was known for investing in real estate to great wealth-building effect? I’m not sure how worthwhile other time periods are for comparison as our economy is so much different.
So you don't start getting it back when you're old. It can serve you much earlier.
I think the rate of home ownership there is over 90%.
... and that's ignoring that shocks like the mortgage crisis can happen, which indicates that home ownership isn't as stable a store of value as, say, the US dollar.