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I agree with your point about systemic issues pushing people towards real estate or to carry cheap debt (particularly in the form of mortgages). But the leap from:

> investing in public companies and tech is very risky, as valuations are at record highs

To real estate where valuations are also insanity and at record highs doesn't make any sense.

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> investing in public companies and tech is very risky, as valuations are at record highs

> To real estate where valuations are also insanity and at record highs doesn't make any sense.

The difference for me is that I saw what was happening in public markets and I bought real estate in a country where this wasn't yet the case. It is now though, so your point is valid.

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