Quote:
Originally Posted by JWheaton
Why are all the current Kirkham's worth more now that the base model has gone up in price?
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In real estate, it's called the Theory of Progression (The Theory of Regression is the opposite).
If new houses become more expensive, then the used stock of homes in the neighborhood will trend up as well. Buyers who can't afford the new homes, then will look at the used stock more and thus the used stock will move or progress towards the price of the new stock because of increased demand of the used stock of homes.