Musk has done good for electric cars, and space research, and many things, but he is also full of hot air. Tomorrow he can tweet "driving a Tesla cures cancer and makes you dick grow by 10%", and Tesla stock might raise by 20%.
Value, especially today, has lost all meaning. Textbook valuation should be thrown out. Its all about hype and panic buy/sell. This applies to crypto (look at it finally coming down.. a bit), real estate across the globe, etc.
His genius/tenacity/ridiculousness is being indulged by an army of people willing to back him with free money from their governments, central banks, and other asset bubbles but that's unlikely to go on forever. Especially if he really goes down a rabbit hole with something even more impossible than what he's done so far. Like building a base on Mars.
Understand now? Or still hurting from the TSLA losses when you piled in at the peak?
In handful of months since I got my mortgage, I would have lost 20% of my purchasing power if I wanted to keep my monthly payment the same if buying a house today. The speed at which interest rates have shot up is enough to induce whiplash. So as the value of my equities take a beating, the cost of financing my house looks better and better in addition to the value of the house going up. In a Yin-Yang world.