Here’s a thought experiment. Take a place in north park and Carmel Valley that are both worth $1.5 million right now.
Now think about what they would have cost in 1997.
Are you saying the NP property would have been more expensive than the CV property? Because that’s the implication of saying CV appreciated more than NP.
Here’s an example of what I am mean. A CV place that was $350k in 1997, now $1.1m though maybe it will go for more like 1.25.
