Re: [Pen-l] another one for David S.

To: "Progressive Economics" <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] another one for David S.
From: raghu <mraghu01@xxxxxxxxx>
Date: Fri, 18 Apr 2008 10:20:02 -0700
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On Fri, Apr 18, 2008 at 9:28 AM, David B. Shemano <dshemano@xxxxxxxxxx> wrote:
>  In an earlier post, Doug Henwood had distinguished autos from homes because "homes are supposed to appreciate."  Why?  Why should a home intrinsically be an appreciating asset?  It is essentially a depreciating consumption good, like autos, clothes, home entertainment systems.


This is a great question: why are houses intrinsically a non-depreciating asset?

However we need to qualify this: contrary to popular misconception,
house prices are not a great investment historically. I believe Robert
Shiller showed that over the last century house prices on average kept
pace with inflation but thats it. Still why is it that house prices
don't depreciate as other assets like cars do?

No doubt subsidies and zoning laws are part of the answer. But is that
the whole story?
-raghu.
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- Re: [Pen-l] another one for David S.
  - From: Shane Mage
- Re: [Pen-l] another one for David S.
  - From: Gar Lipow

References:
- RE: [Pen-l] another one for David S.
  - From: David B. Shemano

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Thread context:
- [Pen-l] Re: Query on Kahneman, (continued)
  - [Pen-l] Re: Query on Kahneman, Michael Nuwer Sat 19 Apr 2008, 12:36 GMT
- [Pen-l] Guns in the city and the country, Charles Brown Fri 18 Apr 2008, 15:35 GMT
- [Pen-l] another one for David S., Jim Devine Fri 18 Apr 2008, 14:44 GMT
  - <Possible follow-up(s)>
  - RE: [Pen-l] another one for David S., David B. Shemano Fri 18 Apr 2008, 16:28 GMT
    - Re: [Pen-l] another one for David S., raghu Fri 18 Apr 2008, 17:05 GMT
      
      Re: [Pen-l] another one for David S., Gar Lipow Fri 18 Apr 2008, 17:26 GMT
      
      Re: [Pen-l] another one for David S., Shane Mage Fri 18 Apr 2008, 17:35 GMT
    - Re: [Pen-l] another one for David S., Jim Devine Fri 18 Apr 2008, 19:33 GMT
  - RE: [Pen-l] another one for David S., Seth Sandronsky Sat 19 Apr 2008, 16:43 GMT

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