>A question of practical as well as theoretical significance:
>
>Do houses depreciate?
>
>If they do, why isn't this reflected in their price?
>
>If they don't, what distinguishes them from other artefacts
>which do so depreciate?
>
>
>
They do, but at a slower rate than money. Land prices also
tend to rise quite rapidly.
Paul Cockshott
wpc@cs.strath.ac.uk
http://www.cs.strath.ac.uk/CS/Biog/wpc/index.html