Real estate or S&P 500. Honestly, what‘s the better investment for you?

My conclusion of listeing each most important aspects why (not) to invest in each: - S&P 500: Pros: fully passive, highly liquid, instant diversification, historical ~10% compound annual growth Cons: High market volatility - Real estate Pros: leverage from bank debt, predictable monthly cash flow, physical asset Cons: Illiquid, high entry costs, cost of maintenance, exhausting tenant management hassle What do you think is the better asset class and do you have any aspects to add why (not) to inv