There is a lot more speculation in real estate and stocks than there would otherwise be because a lot of people simply want to "pause" their money, but thats not an option because of inflation.

So they hold more stocks and real estate than they actually want to cause its the next best thing. In theory, thats where bitcoin comes in, and they no longer have to compromise. Now they actually CAN pause their money, using bitcoin.

Real estate does naturally appreciate, and it makes sense that it does, but without inflation it appreciates significantly more gradually.