Access to leverage is much more available (and is highly subsidized) when it comes to US homes.
Personally, I think that is a major problem and the US would be much better off if the government stopped amping home ownership so much, but from a rationale actor point of view its fairly easy to turn government subsidized mortgages into outsized returns in housing.
Personally, I think that is a major problem and the US would be much better off if the government stopped amping home ownership so much, but from a rationale actor point of view its fairly easy to turn government subsidized mortgages into outsized returns in housing.