This makes no sense. Property/land doesn't depreciate. The actual home structure does but you forget that homes aren't static assets. They are continuously bein

This makes no sense. Property/land doesn't depreciate. The actual home structure does but you forget that homes aren't static assets. They are continuously being improved. In essence, from the day a house is built, it needs to be rebuilt piece by piece over time. This affects the price. Also you need to consider the lifetime of materials VS the inflated cost of new materials and labor to built an equivalent today.