ETH does have a return currently of ~5% through staking.
Investment is not the same as speculation.
Even without guaranteed appreciation in value people will buy homes because they have an asset compared to alternatives like renting. When renting you’re guaranteed a loss on rent paid.
Where I live buying is much cheaper than renting and even if my home is worth 25% less than I paid for it by the time it’s paid off I can come out ahead because I still have an asset worth let’s say $100k and I’ve spent less money than I would renting. That’s without factoring in the other reasons people buy homes.
If money was the only goal, renting something extremely inexpensive and investing would give me a better financial return.
That assumes you're getting the same product, but when renting you don't necessarily have any guarantee that the lease will be renewed when your rental term is up. Owning your own home is a more stable arrangement since you generally face no risk of eviction as long as you keep up with any applicable mortgage and property tax payments (barring exceptional circumstances such as eminent domain).
If you expect to move frequently then it might come down to just rent vs. mortgage and property value, but if you intend to stay in one place for the long term then ownership has other advantages to offer.
Yep, that's exactly my point. It cuts both ways because your landlord also has no such guarantee; if prices decrease then the commitment is a liability not an asset. It just depends on the situation.