It also assumes that everyone who can get a job, will get one. Which is not really true in most markets.

I see statistics in Australia anywhere from 10-100 people searching for a job, per job vacancy: https://unemployedworkersunion.com/job-seekers-v-job-vacancy...

And that doesn't cover complexities of job location, under employment, qualifications, etc.

And even if you could move for a new job, whether you sell or rent, you are generally quite locked in and it's very difficult to just up and move at short notice.