It can generate better returns, or at least more predictable returns than other asset classes like stocks, bonds, crypto, and other alternatives. 

Think of it another way, if you invest in apple stock and show up to a store asking questions or their office to ask questions and say you are an investor in the company - what type of response do you think you would get?

Equities, stocks, bonds, real estate, gold, silver and everything else is going to increase in nominal value but not necessarily in real value. 

George Washington acquired a significant amount of land this way, and shortly after acquiring such created SYNDICATIONS (he later used JOINT STOCK COMPANIES when they came into existence) to raise the capital needed for development.  

It's difficult trying to predict where the rates will go.

They came in around 30% cheaper than ES windows and were all stocked locally.

An owner trades the predictability of a low Flat Fee (which is typically charged every month whether property vacant or occupied, tenant paying or not), for less PMC alignment with the owner's interests.

What if appreciation and the prediction of appreciation was the metric to be used over the hold period?

My grandmother lived there for many years when I was growing up (I always think of the massive shark head store there), but I don’t think even she would have predicted how much it would rise.

But we do have a few other things we didn't have ten years ago: A historic housing shortage caused by 15 years of under-development and driven by a demographic shift (demographic changes are as predictable as time itself), very high purchase and rental demand, and continued upward pressure on rents and prices.I agree with you that in many ways it has gotten harder to invest.