There was a question yesterday that generally stated cars lose their value so fast because people don’t know what the previous owner did. That’s fair, but why does that not relate to houses?
In: Economics
Depends on the country and locale honestly. Some markets (e.g. Japan) tend to tear down and rebuild more regularly than others. What really has value is the land. Even there this isn’t hard and fast rule, just a tendency. Also just because there is a general tendency of appreciation in some places (like the USA) this doesn’t mean that specific areas become less desirable and real estate crashes out (e.g. Detroit, Gary, etc).
Looking at cars, not all of them lose value either. Some are super rare to begin with and continue to go up soon as they sell. Some are normal cars and follow the usual trend of depreciation but after decades they may become desirable to certain buyers and, if taken care of, begin to go back up again (e.g. hot rods).
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