Do you see equity as real wealth?

I noticed that when equity loss for homeowners comes up, some will say equity doesn’t matter because they plan on living in their homes for the next 5 years minimum.

I’m just wondering if this mindset is more common among owners who aren’t in the market to sell right now.

• Do you count equity as part of your wealth?
• If you’re holding long-term, do you track your property’s market value at all?
• For landlords, is equity growth a priority, or is cash flow the main focus?