The house at 2343 (w/2345) is a duplex with two 3/2 units on either side. The house at 2519 Levante was effectively a 3/2 (downstairs) with a *very nice* loft upstairs, but it is a 3/2 SFH (we had made an offer on it). The duplex would have been the better deal, and I believe the buyer of 2519 overpaid and will lose money if they need to sell it within the next ten years (obviously, they outbid us by a large margin).
The bolded part of your post is very important here, IMHO. This is exactly what I was referring to in my response to sdr — when interest rates are this low for this long, savers/cash holders will be MUCH more willing to part with their money than in a higher rate environment. Everyone who is throwing money around today is making a bet that interest rates will stay low for the duration, and/or are betting on inflation. I honestly see both sides of the inflation/deflation debate, and have always been conflicted about it. Right now, our position is entirely unhedged in favor of deflation (all cash), but I’d be lying if I said it doesn’t worry me.[/quote]
CAR, if you take a recently closed home with $/sqft close to $200, you’ll see the same result if it was sold in 2000.
as for inflation, this country’s survival will depend on inflation and low interest rate. without the low interest rate, the debt will simply be so overwhelming that we would go BK.
