If “most of your wealth is in your home” you don’t have any wealth. What you have is an asset that has been made artificially scarce. It doesn’t help you at all unless you want to move to some area that doesn’t have as much artificial price inflation. However it does hurt your community significantly by making housing unavailable.

People need to think of their children, nieces and nephews before they go calling this selfish short-term thinking “completely logical.” If it’s logical at all it’s in a very narrow way to only a narrow group of people. Nothing “complete” about it.