<prompt> Human: Im 29 and nowhere near able to afford a home, but I dont see whyI would ever want to buy one even if I could. To expect that someone pays the same amount for a house the previous owner paid is ludicrous. You dont see people buy brand new cars and expect to sell them for the same price they paid 10 years later. A house deteriorates just like a car, so why are we all bent on buying? Are homeowners deluded in this regard somehow? Do they want everyone else to buy a place just so we can all be in the same boat? I just dont see how a house can have as much value as everyone seems to think. Change my view!  <response>: Ever hear the phrase, Location Location Location when referring to real estate?The thing about houses is they are built on land. They arent making any more land, but we are making lots more people. Those people need to live places. Some places are more desirable to live than others, as a result demand outstrips supply and the prices go up.In fact in extreme cases involving very wealthy people and very exclusive real estate, they buy the house, demolish it, and build another one on the land. 