Well, these places were going

[meadandale]

Well, these places were going for about $180-200k in 1998. They doubled in price between 1998 and 2003.

I paid about $350k for my 3/1 in AG in 2003. According to the inflation calculator these houses should be worth $268k based on a 1998 value of $200k.

http://www.bls.gov/data/inflation_calculator.htm

It sure would be nice if housing prices everywhere dropped back down to these levels. I’d be forced to walk away from my house, in that case, as I wouldn’t continue paying on something that was 30% under water.

Of course, that means that many of the CV homes that are selling for $1-1.5 million now would be selling for about about half that.

For instance, a friend of mine used to live in San Raphel in CV. They paid about $380k. They sold it a few years later for double that. There is one on the market right now for about $650k. The inflation adjusted price for this would be about $510k.