I guess my problem with this statement is that, if you can sell the asset for more than <cost to buy + cost to maintain>, has it really depreciated? And, exclud

I guess my problem with this statement is that, if you can sell the asset for more than <cost to buy + cost to maintain>, has it really depreciated? And, excluding external factors (ex, the area the house is in has declined), this has been possible to do in most areas for longer than I've been alive; half a century at least.