Downhill from here for sure, but there will still be a premium for some physical properties. For example, properties (land + facilities) close to cheap and abundant energy sources will always be attractive to miners. The choice to buy such land will be based on expected future sats flows and therefore still considered an investment property. Same for vacation rentals that can earn sats flows. We just won’t have as many people buying second and third homes because they’ve got excess cash and nowhere to put it.