It take a huge amount of materials and labor to build, and returns value slowly over time. Depending on the inputs and returns, this can either create positive or negative value.
Of course we should invest in actual property building, I meant investment class as in asset class - a thing you buy with the hope of capital increase. This is clearly quite different from investing in building houses that results in a new house.
You are probably right in the majority of cases,but I do think it is a mistake to automatically discount financial harm as less.
If I invest 20 years of my income in a property that someone has stolen, that is a significant loss to me in human terms as well as financially.
I would be open to treating the destruction of such property equivalent to the taking of an equivalent amount of one's life.