I don't think capital has any special attachment to real estate specifically. It's just that we have policies that essentially require your money to be invested into something (because inflation); and we turned real estate into a safe investment asset through policies that create perpetual scarcity.
You can probably come up with policies that penalize real estate investments, but (a) it will just cause the investors to chase some other asset class, instead of redistributing wealth; (b) unless scarcity is addressed, it's unlikely that housing prices are going to drop. Landlords extract profits from the assets they hold, but they don't cause there to be fewer homes or apartments available.
You can probably come up with policies that penalize real estate investments, but (a) it will just cause the investors to chase some other asset class, instead of redistributing wealth; (b) unless scarcity is addressed, it's unlikely that housing prices are going to drop. Landlords extract profits from the assets they hold, but they don't cause there to be fewer homes or apartments available.