I wouldn't say this is surprising. If you can extend your horizon, you can weather downturns that reduce your asset value, buy while demand is low, and simply w

I wouldn't say this is surprising. If you can extend your horizon, you can weather downturns that reduce your asset value, buy while demand is low, and simply wait for the cycle to reverse. Real estate shows the same pattern. The problem is that not everyone has the means to simply extend their horizon.