You are talking about new houses. Everything above the ground...

You are talking about new houses. Everything above the ground depreciates. How much will a brand new Merc of $100000 be worth after 5 years. A friend's 50 years' old house was sold not long ago for $ 460000. The actual house was valued at about $50000 when he bought it about 7 or 8 yeas ago. Housing is a bubble,especially the land, fueled by a credit bubble.