And real estate never goes down. Already there is a percentage of the population that has little to offer the job market that automated machines can't do better, faster, cheaper. These unemployable people are essentially human pets. This percentage will grow. While the overall quality of life will keep improving, the idea there will be a good job in the future for everyone that wants one just isn't so. For the first time in history, machine sensors, brains, and brawn now exceed many human capabilities, and their costs go down about 10% per year while human labor costs go up. What we are witnessing is the rise of the machines.
You’re ignoring a few things and historical fact which along with theory contradicts these fears. There has always been a fear that advancement in high tech is a threat to the economy.
But advancement in technology has always been a boon to the economy providing more opportunities. Some examples of what’s being ignored are, somebody has to design, build, and sell these machines. Somebody has to design, build and sell the components. Somebody also has to maintain these automated entities. A whole new supply chain and derivative supply chains up and down are created.