A part of the valuation comes from miners who gets their returns cut by half every ~4 years. They have an interest in having the price (at least) double by then.
How much work have you put into having the value of your house double every four years? How many people are invested in your house appreciating like that? If your house appreciates, do a bunch of bankers and hedge funds also get rich along the way? How many politicians have you taken to lunch and on ski trips with the proceeds from the last time you sold half of your house when the price doubled?
