Is it just CA? My parents bought their house in NJ in 1963 and about 30 years later sold it for 10 times what they paid.[/quote]
Yeah – but CA was on steroids for the similar timeframe.
My parents bought for 29K in 1966. Sold to me (at market rate) for $600k in 2002. 35 years and 20 times the value.[/quote]
Absolutely agree that CA appreciated much faster but it also grew and matured significantly more than the east coast which was mostly built out decades ago. The CA hi tech economy boomed over those decades compared to the manufacturing based economy in other parts of the country that declined on a relative basis. With that said, my point was actually that real estate values increased much faster than income in alot of places not just CA.
