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HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
43666 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
10920 posts

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
6851 posts

quote:

Will they ever


Yes


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

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
8769 posts

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.


agdoctor
LSU Fan
Louisiana
Member since Dec 2004
3001 posts

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
57480 posts

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
38878 posts

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
Unincorporated Ozora, Georgia
Member since Sep 2012
52352 posts

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
23110 posts

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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