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re: Home Prices Show Biggest Rise in 6 Years
Posted on 2/10/13 at 5:59 pm to Doc Fenton
Posted on 2/10/13 at 5:59 pm to Doc Fenton
quote:That's gong to depend on location.
Well I seriously doubt that they are going to reach December 2005 levels in terms of real prices any time within the next decade.
Anecdotally, we received an unsolicited cash offer out of the blue >20% over acquisition price on an upper end property purchased <1yr ago.
Not selling, because we love the place. But was basis for the OP.
Obviously as with any investment, YMMV.
1
Posted on 2/10/13 at 6:20 pm to NC_Tigah
quote:
That's gong to depend on location.
Only if you're talking about a rather specific location, as prices are still about 40% below their Dec-05 highs in real terms.
Even Charlotte & Denver, the best 2 out of the 20 major markets at holding value, are down close to 15% according to Case-Shiller. I would be surprised if housing in those places appreciated by that much above inflation in the coming decade, although I guess anything is possible.
Now certain trendy new developments will always occur on the local level, and there are always boomtowns like Williston, but just in the main, I don't see housing getting anywhere near its old levels anytime soon.
quote:
YMMV
What does that mean?
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