why does a house not lose value similarly to a car when sold?
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A car actually has a shelf life – eventually, it’ll reach a point where it costs more to replace broken parts than it would to just buy a better car. So cars are sold with that shelf life in mind – engines, transmissions, the expensive parts have a general lifespan, and they lose value as they’re used.
Houses, in general, have parts that can break and stay broken, but the actual structure and foundation of the house, unless something really bad happens, can stick around for centuries with typical upkeep. And, more importantly, when you buy a house it comes with land, and no matter what you do to the house, the land will retain its value. A 40-year old house will likely sell for less than a 30-year old house, because parts of the house have lost value and will need more upkeep, but that land it’s built on (again, unless something catastrophic happens) doesn’t change, and retains a huge chunk of the overall sale value.
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