Yeah but you can also have a disaster strike in that place (say, a nuclear accident) that will obliterate your real-estate value. Or general society changes that will make a city much less desirable (see the "rust belt"). Of course, nothing is without risk - so in that sense, it's not surprising that real-estate has risks. But that's what I wanted to underline, nothing is "inflation-proof". There's no guaranteed way to preserve wealth (much less increase it). None.

Clearly crypto is more accessible to more people than is San Francisco, London, or Hong Kong real estate.

Way less liquidity and way more administrative overhead, but sure