Cars are depreciating assets. They can only be maintained and upgraded to a certain extent before they must be replaced. A public park, a street, a school, the

Cars are depreciating assets. They can only be maintained and upgraded to a certain extent before they must be replaced. A public park, a street, a school, these also depreciate, but most of them can not be thrown out and replaced like a car. They require constant maintenance. They also have nearly unlimited capacity for upgrades. The school gym can get new equipment. The street can be repaved. The park can get new landscaping. Wherever you live, the public amenities can always be improved. There is always demand from the residents to make those improvements. Nobody ever tells their town to uglify the neighborhood. They always ask to beautify it. That means they are always asking to increase demand, and therefore to increase housing prices.