[denimnerd46]

Does housing really depreciate like that where you're from?

I don't see that at all where I live.

I also don't see middle income expecting all new everything. They can't afford it. They can afford a house from the 70s or 80s that needs some TLC. The ones from the 50s and 60s cost over a million bucks because of location and lot size.

There's always new construction available way far out at a middle income price range, there's no history of depreciation there because way far out is a relatively new thing. The previous way far out are those 70s and 80s houses I mentioned above. With the 90s and 00's in between.