Real estate, Crypto and AI make up the 3 legged stool of US investment (from my perspective).

In my area which is over 1/3 retired people this is where the majority of their investments seem to lie. Those who are simply relying on 401k or other investments are also at risk due to the lack of diversification. Since their investments are tied to those 3 things.

If any of the legs of the stool go out...the whole thing goes down.

Wait till you see the housing market in other Anglo countries.