the better question is why money would stop going into hard assets like real estate. The answer is cause of rising unemployment and a recession or depression. possibly caused by monetary policy overshooting on rate increases.  
so if rates go up cause of rising wages so will banks, insurance and real estate. The problem is the market does not believe even with low unemployment that wages will rise, thus the ten year world wide ranges from near zero in germany to 2.3% in canada. 
So the jury is still out all the way around, so folks are buying homes to live and rent instead of investing.