From what I understand, OP is saying that real estate prices are also falling according to the economic situation, and rich people are also afraid to invest because it doesn't generate profit. The real estate market also became gloomy, not better than other markets. But it is still considered the safest asset, and the fact that it drops in price is a good investment choice. The demand for real estate will never go away or decrease over time, look at how fast the world population grows, and you will see the potential of real estate.
The real estate market is different from the FMCG market, and it has both ups and downs. Moreover, "regional" and "situational" moments are added.
For example - in my country, as well as throughout the world, until 2009 the real estate market grew like a bubble - take it today - tomorrow sales are guaranteed to be more expensive. And prices have skyrocketed to an unacceptable level. But the people, by inertia, bought, and even on credit, being sure that tomorrow, even taking into account loans, they would sell at a profit. The market has burst....Prices have fallen.
Then, though, the situation stabilized and prices began to rise again.
After the Russian attack on my country, the real estate market expectedly fell even in the capital, especially in cities close to the front line. But after some stabilization, around 2018, prices began to rise again. Today the prices look quite logical, but the demand is still pushing up the price, because. a large number of people appeared who lost their property (temporarily occupied areas), and wishing to buy in other cities.