While 1997 was laying pretty much on the bottom, you can see by 2002, we were well out of it, potentially excessively so giving 100% appreciation in 5 years which is a compounded return of 15%/year.
I used to think 2002 numbers were pretty secure, but I’m having more and more doubts. I see more and more fraud coming to light which in indicates the actual home buyer peak may have been 2003/2004 and everything since was fraud propping up fraud. When single buyers are buying five or six homes through multiple mortgage brokers before the loans can register, those aren’t real sales and the competition they caused wasn’t real either.
