[quote=cantab][quote=sdrealtor]FWIW houses that i have seen are not close to 2X’s 1996 prices adjusted for inflation. Maybe 2X’s 1996 prices but not adjusting for inlfation. Not sure if that is what you meant to say but its not the case that i can see.[/quote]
In Pacific Beach and La Jolla, houses are selling easily for three times their 1996 or 1997 prices. 3x nominal equals 2x inflation-adjusted, approximately.
1110 West Muirlands Drive in La Jolla sold for $340,000 in early 1997. It had languished on the market for many months. Ocean view, backs to golf course. It’s had a major remodel since 97, but not recently. In 2008 the owners listed it for over $2M. It didn’t sell, but it would sell instantly now at over $1M.[/quote]
If a house on the La Jolla Country Club sold for $340K in an open market sale during 1997, I’ll eat that one a 2X4 at a time also. In 1997, tract houses in Encinitas were selling for that. Sorry CantaB, bad answer.
