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HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
30413 posts

Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
I feel like they have been sustainable for so long that there will not be a huge drop off unless we hit another recession like 2008. Thoughts?

Maybe it's just certain areas in Alabama, but it seems like EVERYONE's home has increased in value by 20%. Despite this increase, buyers are still purchasing homes like crazy.


KG6
LSU Fan
Member since Aug 2009
10914 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
My home value has dropped over the last 4 1/2 years. Only about 4.5%, but still. And that's legitimate as we are casually trying to sell.


LSU6262
LSU Fan
Member since Jun 2008
4892 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
quote:

Will they ever


Yes


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32
Im A Dinosaur Rawr
Auburn Fan
Member since Mar 2019
57 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
My home value in California, over the past 2 years increased, 10% leading to a 60K profit when sold.

Midway between San Fran and Sacramento. Raising interest rates had us concerned it would be a difficult sell. Very happy to get out now though as I feel like it will be dropping again soon.


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10
tenderfoot tigah
LSU Fan
Red Stick
Member since Sep 2004
4433 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
Wages go up and material prices go up yearly. Good luck if you are waiting for a dip in the market. People would just build and flip houses if there were a huge price discrepancy.


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agdoctor
LSU Fan
Louisiana
Member since Dec 2004
2555 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
Interest rates in the 1980s were in the teens. Interest rates will dictate home prices. If interest rates would go to say 7% just figure how that changes what you can buy.


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20
Cdawg
Houston Astros Fan
TigerFred's Living Room
Member since Sep 2003
51475 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
quote:

My home value has dropped over the last 4 1/2 years. Only about 4.5%, but still. And that's legitimate as we are casually trying to sell.

Aren't you in the Woodlands area? 4.5 years ago you were in a mini-bubble up there with the opening of Exxon campus.


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31
TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
31257 posts
 Online 

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
Prices in New Orleans rose last year, up nearly 9%. Homes in New Orleans sold for an average of $354,962.


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10
deeprig9
Georgia Fan
Member since Sep 2012
33665 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
The next recession will grind the housing market to a halt. Value will fall, it is all cyclical.

Whether we see a drop down to 2009 levels I don't think so, not across the board. But there will be a dip.


lynxcat
Rutgers Fan
Member since Jan 2008
20110 posts

re: Thoughts on home values - Will they ever drop back to the values 5-10 years ago?
As another poster said, when interest rates rise then housing market will soften. It’s just a fact of supply and demand and we have lived in low interest rate environments for a decade now.


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