While what you said is likely true, the fact remains that if you're not "profiting" from the problem, everyone else is doing so on your behalf.
If everyone else takes a step forward, it's as if you took a step back.
If everyone else takes a step forward, it's as if you took a step back.
As an extreme example, there's a UBS ETN with the ticker MORL that tracks a global mortgage REIT index. It offers 2x leverage. It currently has a 20%+ yield and distributions are paid monthly. Is there risk? Sure. But unlike a house, you can exit your position with a few keystrokes.
The great thing about investing in real estate through securities like this is that when the market slows or changes trend, you can sit on the sidelines or go short.
The great thing about a self-directed solo 401(k) is that you can purchase physical real estate in the retirement (speak to qualified counsel about the rules). Also, if you want to buy a home, you can borrow up to half of your 401(k) balance (to use as a down payment) and, if your plan allows, the repayment term for a loan used to purchase a primary residence can typically be extended beyond five years (the typical term).
Again, if your interest is in profit, real estate-related investments are hard to beat for the average person, especially if you hold them in tax advantaged retirement accounts. Also, consider that with a leveraged product like MORL, which has total annual fees of .80%, you're leveraging at an effective cost of capital you could never get as an individual.
As an example, for a programmer in a ~37% tax bracket owning a million dollar home in the Silicon Valley, you could be talking about a tax-deduction on the order of $12k annually.
With that said, MORL looks like a very interesting product -- and probably a better investment than a house for most people.