If by rent-seeking, you mean: using resources to obtain an economic gain from others without reciprocating any benefits back to society through wealth creation.
Then real estate is not "rent-seeking".
Real estate owners take the burden of home ownership off the shoulders of renters. Renteres choose to rent because they have an economic incentive to do so. Instead of a buying a home cash, or putting down a deposit, a renter can use that money for investing in other activities, spending on themselves or their family, or save. Of course, there are many renters who cannot afford a down payment at all. For them, the landlord is playing an even more important role by letting them rent in areas where purchasing would be impossible.
I do agree that most tax incentives for investing should be abolished. But I disagree that real estate is less productive than other types of investing.
Then real estate is not "rent-seeking".
Real estate owners take the burden of home ownership off the shoulders of renters. Renteres choose to rent because they have an economic incentive to do so. Instead of a buying a home cash, or putting down a deposit, a renter can use that money for investing in other activities, spending on themselves or their family, or save. Of course, there are many renters who cannot afford a down payment at all. For them, the landlord is playing an even more important role by letting them rent in areas where purchasing would be impossible.
I do agree that most tax incentives for investing should be abolished. But I disagree that real estate is less productive than other types of investing.