5 ms·

I agree that real estate suffers cycles like anything, but how is it a consumable?

• carsongross 15y ago
  Just in the sense that housing, and in particular new housing, had shifted to the rapid-turnover, quickly depreciating model of a consumable: shoddy workmanship, rapid depreciation and rapid discarding of used goods. At a purely technical level, despite the best efforts of the housing industry, we do not appear to have yet build a significant number of houses that are totally worthless after three years, so I admit some hyperbole in that characterization.