You have hit the nail on the head ,Fair point! But the money doesn't seem to be flowing there. Seems to be less risky to just buy existing asset, and watch it rise in value due to the inflationary effects on assets of QE.
Just to give you an example, Have a look at the old Allsops auctions of property sold in your area,
I bought around 2012 lots of the property sold around that time is still idle where I live ,I travel around Ireland quite a lot same thing happening anywhere I go, a few weeks ago I was staying in a large irish town,
I had time on my hands I just checked to see was the same thing happened there as well,
no one living in most of the property's sold around that time ,