[quote=davelj][quote=davelj][quote=CA renter]
Either way, davelj brought up a good point, and I’m willing to say that housing prices here should be 23%+inflation from 1995 levels. Are we there yet? (I seriously don’t know.)[/quote]
I’m almost certain that the Professor has this information.[/quote]
Having said that, I’ll take a quick, crude stab at this. The median home price (sold) in SD County was $171,600 for all of 1995. In July 2010 the median home price in SD County was $332,000. 3% inflation between 1995 and 2010 would get you to $267,300. Add in that 23% premium and you get to $328,800, or about 1% below the actual median.
The main caveat is that there’s no adjustment for size or mix of houses sold in this analysis. And someone could probably come up with a more accurate inflation stat. Perhaps the Professor will fine tune this analysis.[/quote]
Pretty close based on your calculations, but like you’ve said, it depends on the market mix.
Also, I think it’s wise to consider what our debt situation was then vs. now, and also what our economic prospects look like in the future. The numbers do look more compelling now than they did in 2005 in many places, admittedly.
