[quote=pemeliza]”I do expect them to drop to 2001-ish levels, adjusted for inflation.”
What year would this be in nominal terms CAR?
Maybe starting at 2000 price levels is better to avoid the funky time period between late 2001 and early 2002. If you figure 2.5-3.0% compounded over 10 years you get around 28-35%. So about 28-35% over 2000 pricing (nominal) in the good areas?
This is probably cherry picking a good deal but here is one that matches up to the math:
Sold for 32% over 2000 price levels. That starts to look a good deal all things considered. I’m surprised that after two massive price drops they only got list price. Hard to imagine the buyer of that house getting hurt much on that deal.[/quote]
Yes, that was a pretty fair deal. As some noted in another thread, the lot configuration is a bit unusual, so it’s not “prime” for that particular area. I still think it could go down from there, but that sale price wasn’t too bad, given what the market is. I also heard they had multiple offers, but someone who knows more would have to confirm this.
