There’s more to it than that. You can build more houses just as easily as building more cars. Houses also appreciate in areas where undeveloped land is in abund

There’s more to it than that. You can build more houses just as easily as building more cars. Houses also appreciate in areas where undeveloped land is in abundance. The disparity comes from the lifespan and relative ongoing maintenance for each. A car depreciates because it has high long-term maintenance costs due to wear and tear. A 10 year-old car more expensive to maintain than a 2 year-old car. Almost everything in a car eventually needs to be replaced. The exception is at the high-end where some cars become collectors items after 30+ years and will then appreciate due to rarity (as per your original argument). Houses properly built will literally last centuries. My old house in Baltimore is over 100 years old.