[quote=waiting hawk]You cant only look at it in nominal price.
Mine foreclosed 680k bought it for 349k in 2010.
It sold in 7-21-2000 for 270k.
[/quote]
I was referring to the quote in the original post:
Last week’s Case/Shiller Home Price report, which showed that real estate prices have now returned to 2004 levels, is the latest piece of such “good” news. In fact in a new national survey by real estate website Zillow found that 62 percent of U.S. homeowners believe that their home is worth as much or more than it was a year ago. Three-quarters of those surveyed expected that the value of their homes would rise or at least stay the same between now and early 2009. Talk about a field of dreams!
However, given the horrific fundamentals of the market, I would expect that before the market finds a real bottom, another four years of price increases will be similarly erased; leaving prices at 2000 levels or lower.
They were clearly talking about purchase price, not total monthly payment.
Looks like your house is above 150% of it’s 2000 price. Mine was at 175%. Don’t think we’ve hit 2000 prices yet, at least not in the areas where those two houses are located.
