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Housing 1998-2018: A Look At Markets Utterly Broken By The Crash

By Patrick following x   2018 Apr 10, 4:27pm 515 views   3 comments   watch   sfw   quote     share    


https://www.forbes.com/sites/andrewdepietro/2018/04/09/housing-1998-2018-a-look-at-markets-utterly-broken-by-the-crash/

It’s not exactly usual for home values to be lower than they were two decades ago. One would expect 20 years of inflation alone would make home values higher by today. Not so for more than 180 cities in the US.

According to data from Zillow, out of approximately 13,014 cities tracked by the site, 16 of them have seen values of single-family homes fall by $50,000 or more from Jan. 1998 to Jan. 2018. And nine of these cities saw values drop 25% or more.
1   lostand confused   ignore (0)   2018 Apr 10, 6:31pm   ↑ like (0)   ↓ dislike (0)   quote        

Interesting. I wonder why New mexico -it is sunny and nice mountains and scenery?
2   P N Dr Lo R   ignore (0)   2018 Apr 10, 7:01pm   ↑ like (0)   ↓ dislike (0)   quote        

Patrick says
One would expect 20 years of inflation alone would make home values higher by today.
They would have been in normal times when people didn't buy houses as investment vehicles but as places to live. By 1998 and especially up through 2008 those homes were already over-priced and would more than likely have been valued at the much more realistic prices of today, so they haven't really fallen. You can play make believe for just so long but reality is going to reassert itself somewhere along the way.
3   WookieMan   ignore (0)   2018 Apr 10, 7:03pm   ↑ like (0)   ↓ dislike (0)   quote        

lostand confused says
Interesting. I wonder why New mexico -it is sunny and nice mountains and scenery?


Long shot guess on my end. What’s the water situation like? If that resource is a constant issue I could see that being a problem. NM is one of only 4 states I haven’t been to, so I don’t really know from anecdotal experience.




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