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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: JBTFD who wrote (18353)3/9/2004 3:59:45 PM
From: TradeliteRead Replies (2) of 306849
 
This probably doesn't fit into the context of what you're studying, but one point about house-price appreciation in recent years, which few seem to mention or care about , is this:

Older homes which might have sold for one price 15 years ago have often been upgraded, improved, and expanded, and therefore SHOULD sell for more money today than before, no matter what has happened to prices in general. The growth of the home remodeling industry has been pretty remarkable in recent years.

I can think of entire neighborhoods of older modest-sized houses which now contain hundreds of thousands of dollars worth of relatively new contractor labor, materials and additional square footage.

When the $200K house of 1985 sells for $700K now, there may be reasons other than simple price appreciation.
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