People buy used houses all the time, at least in major cities. They just properly recognize that the value of the house goes to zero after ~40 years, but the l

People buy used houses all the time, at least in major cities. They just properly recognize that the value of the house goes to zero after ~40 years, but the land it's on retains (or even gains) value. Honestly, I don't see how this is that much different than America: in the richest cities there, people frequently buy up some shitty old 1950s house on valuable land, tear down the house, and build a bigger and nicer one. Of course, a bunch of the elderly neighbors whine and complain about how the shitty old 50s house had "character"...