> wrong of me to be sad that it's rent and not home prices?

Rents are higher frequency than home prices. Ceteris paribus, prices follow yields.

Denver home values peaked in May of 2022 and have yet to recover:

https://fred.stlouisfed.org/series/DNXRSA

Anecdotally, Denver home prices appear to be down compared to a few years ago as well. The ~850sqft unit next to mine sold for $700k 2-3 years ago and I’m certain it’d go in the low 600s now.

home prices are falling in a lot of places. :shrug: denver could always be next

Yes, it is in fact quite wrong and one of the biggest obstacles in American society is fetishization of homeownership.

Not wrong at all. Previously owner-occupied single family homes will continue to be bulldozed and replaced with 8 story wooden boxes, owned by national corporate landlords of course.