A valid point, though, is that tangible assets tend to appreciate significantly when currency declines. This includes precious metals, commodities and real estate.
Yes, but demand for Real Estate is local for the most part and local demand is support by currency that is earned locally. If the dollar declines in value against other currencies it doesn’t mean there is simultaneous wage inflation which is what supports RE purchase fundamentals.
Infact, even though the dollar has been declining, wages have been stagnant. This doesn’t support Real Estate appreciation, which is directly correlated with local wages.