What the speaker challenges
The speaker gives a rental-yield estimate and compares it with U.S. Treasury yields at the time of recording. He emphasizes that he is not against every kind of real estate investment; his objection is to buying a condominium based on the rental rate alone.
The interest-rate figures mentioned in the clip reflect that point in time and should not be used for a decision today. Comparing rent with bonds also requires considering risk, liquidity, taxes, maintenance costs, debt, interest and the possibility of a vacant unit.
A framework for comparing before you buy
Estimate net rental income after expenses, test whether you can make payments if interest rates change, and assess how quickly you could sell the asset. Then compare the result with your goals and other options. Do not treat gross rental yield or a statement in a video as a guarantee of profit.