Why are homes price-drop resistant?
Compared with other asset classes, single-family homes are remarkably resistant to price collapses; while every now and then prices may scoot up, they very seldom reverse course with anything like the same speed. (I can’t prove this but am utterly convinced it’s true.)
Homesteaders, early twentieth century
I speculate that the principal reason why is that owned homes are an asset class distinct from all others, in at least five ways.
Homesteader,
