the idea of building wealth for most homeowners simply is not there.
I think it's interesting to buy a primary residence with borrowed money, live in it (build equity all the time) and complain if in the short term the nominal value goes down. If the market is down overall then moving to a similar city should be ok if you can sell at a loss but buy the dip in another location.
If you buy a home to live in for the rest of your life the value is effectively meaningless to you. The cost of capital and ongoing repair and whether it meets needs in a person's old age are more important I suppose.
If you are going to die in the home, or go from there to the nursing home, yeah the price means nothing. I worked with a guy who was of that mindset, he would say it is my kids problem, not mine.
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Yeah if you are staying in the same home and area long term then short term price changes aren't going to get you to sell unless someone offers so far above market rates that it's impossible to say no.
Yeah primary residence property as an asset should help fund retirement by downsizing and having as many great experiences as possible when healthy or paying for care if needed or supporting and being around family.
And for assets as big physically as a house you can't really buy if you need to sell for the same price in the short term