I know I mentioned land area in my original post, but I am speaking more specifically about housing. A 10 year old TV is inferior in every way to a new one tha

I know I mentioned land area in my original post, but I am speaking more specifically about housing. A 10 year old TV is inferior in every way to a new one that costs less in absolute and real terms, the value is incredible. The same is true for cars, clothing, and most other things we buy. Housing hasn't improved, but the cost has risen incredibly. Housing, as a good, is rather unique in this way, and this isn't true globally. A 30 year old housing unit in Japan is something that gets torn down. In North America the age of a home has little to do with its price.