Interesting, sdrealtor… I admire you for putting your family ahead of money. The world needs more men like you!
It sounds like the high-end ($450K in 2000 was high end to me) moved slower. In 2000, we were looking at $320-$330K homes, which had sold for $250K the year before. I asked the realtor for comps, so that’s how I know. The low end took a big jump from 1999 – 2000. Although my husband was earning close to $100K at that time, we only had $20K to put down, so that was all we could afford.
I think the people with $100K – $200K to put down must be commended for their success and commitment to saving. They are at the margin, I would think, based on median income data.
Personally, I expect a return to 2000 pricing. But your point is well taken – each area of the county, and each price range, will take a different hit.
