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It doesn't work that way because if house prices dropped 10% people would just buy bigger/nicer houses. Houses today are so luxurious today, granite countertop
by rr808 4y ago
It doesn't work that way because if house prices dropped 10% people would just buy bigger/nicer houses. Houses today are so luxurious today, granite countertops, ducted A/C, beautiful wood floors its just become normal.
- jeffbee 4y agoThe fact that people still associate stone kitchen counters with "luxurious" is a holdover from 50 years ago when homes were actually affordable. When houses cost $25k, a $50 stone was a substantial expense. Now it doesn't amount to anything. Nothing about the modern American home market is in any way influenced by the marginal cost of slightly nicer materials.