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by atomi
2027 days ago
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Fine, but we generally don't average out values nationally to price homes. We don't take home values from the Detroit market, Beverly Hills market and San Antonio market to price a house in New York. Real estate is deflationary because each asset is unique - like fine art or a 1 in millions baseball card misprint. |
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Not home prices, but the trend in home prices. I think we do, that's why the BLS is tracking this number. I don't work in the industry though, so I can't say for sure.
> Real estate is deflationary because each asset is unique - like fine art or a 1 in millions baseball card misprint.
Respectfully I disagree. Real estate is only deflationary if you're looking at the square footage on the ground alone, but if you can build up a practically unlimited amount (and we really, really can) then it's not a relevant thing to look at. Each square foot on the ground turns into more and more square feet of real estate over time as you build higher and higher.