Canada

Exactly! Imagine if I said, "If we devalue my car, why did I spend years of toil to purchase it?" I'd look crazy. You buy a car for its innate utility, just like you buy housing for its innate utility. Cars ain't an investment, and neither should housing be. Possession of artificially scarce property should not be the key to free money taken from those with the misfortune of being younger or later to market than you — that's exactly the mechanism speculators and landlords exploit, driving up economic inequality and making life 100x harder for the rest of us.