> Housing tracks people ready to stay at a place for employment and other opportunities. Its value is tied to the businesses around. To a certain extent, but a

> Housing tracks people ready to stay at a place for employment and other opportunities. Its value is tied to the businesses around. To a certain extent, but ask the people in Vancouver what's going on with housing prices (tip: it's being used as a store of wealth and for speculation by Chinese people and others) Many, many houses sit empty so it has nothing to do with people wanting to live there. >Well electricity isn't exactly scarce. Supply of electricity is unlimited for all practical purposes. Tell that to the people of Texas! Some of these assets have a component which tracks to real world utility, but often other factors dwarf the so-called fundamentals.