There is just about nothing worse than deflation in a modern economy. It causes lending and discretionary spending to completely seize up which practically guarantees a recession.
Computers have been deflationary since their inception (you can get a better computer for the same money if you wait a year) but people will always value the present more then the future, that's why we've been buying computers regardless. The same principle could apply in theory to other asset classes, you want a house now even though you could get a better one in the future because you value comfort today rather then tomorrow. Spending isn't driven by inflation, it's driven by knowing we have limited time to live.
