The global virus thing and Oz property, page-133

It's not a competition but ... Stock market can afford to crash faster and harder than property because stocks are liquid assets and typically far far far less leveraged.

The stock market can fall 90% and it doesn't matter* if you sold well beforehand. It just becomes a buying opportunity.
Good luck trying to sell a non-liquid asset (e.g. house) at inflated prices during a full blown recession, that ship has sailed for the immediate future. Might not be a huge problem if you have a stable job and aren't too leveraged, you can probably ride it out. But for a lot (read: most) property investors, a property crash would be devastating.

* Of course stock market crashing does matter ... to everyone ... but i feel like this may be a difficult concept for some people on this board to grasp