Indeed.
In the housing game, you buy land and build a house. Excluding inflation, the value of the land goes up. The value of the house goes down.
Even with regular (eg cost) maintenance, a 25 year old house is never worth what a new house is.
New building methods (just improvements in insulation alone), and things like the interior... kitchen cabinets, flooring, bathroom, means that trying to dight this is not cheap.
And even if you do? The house is still worth less than a new built.
Houses are as cars. Massive devaluation year over year.
Most don't get this, because they don't factor in inflation, nor do they factor in the cost of keeping a house maintained.
So land, land, land is the cost, which is much of what your post eludes to.