I think there's a fundamental difference here.
When is the best time to deploy your capital and take partial ownership of a company? Yesterday, but today is fine too.
But for real estate, people really shouldn't, or at least I don't count on home values increasing. You buy a house you want either based off good cash flow properties, or when the market is weak, or you find out as an individual human being you are best served owning instead of renting. You're looking for a great deal. Housing is additionally much more illiquid, and much less efficient of a market. You're not competing with the best minds across this, and every other nation on buying and selling a single house, you're dealing with one seller with a variety of different reasons for selling, and the handful of people that are currently in the market for said property at this time.
I think housing probably has some amount of inelasticity, and snap-back properties as well.