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What's the difference between profiting from stocks or profiting from rent? Either way, I'm increasing my spending power
People need a place to live, they don't need stocks to live. By owning more properties than you need you are contributing to a scarcity and inflated pricing for a basic necessity.
If we lived in a dream where housing was somehow always provided, sure. But we don't. So what to all the people who don't have savings for a down payment do if the only option is to buy? Not live anywhere?
Your stocks do not deprive anyone else of an essential human need, while owning and renting out a house you do not personally use artificially deprives another of buying that house, which further raises housing prices, making an essential human need, an investment vehicle.
Using a different analogy, if you lived in an area with scarce water resources, but happened to purchase land with a particularly abundant spring, you could then profit handsomely by selling that water to the thirsty at an extremely high rate, exploiting the human need for water, and depriving those who cannot afford it in exchange for your own enrichment.
If you buy stocks, you’re essentially just hoping to find someone who is willing to pay more for the same thing. If you own property and rent it out, you’re providing a service to someone who needs it. In the latter case, you’re creating value.
As noted above, this isn't completely true. You can also buy stocks for dividends.
Rental income is just a dividend on a real estate investment. Even if you own the house you live in, you get that dividend in the form of not having to pay rent to a landlord.
That is also true, but where’s the real world value you create by spending money on stocks? Does it bring any benefit to anyone other than you?