Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (12575)	9/30/2004 3:46:13 PM
From: GraceZ	Read Replies (1) of 116555

I don't know how strong of an indicator this is, but I think it's very interesting. Any know how to confirm if my wife's experience is typical? (That the gap is truly widening between replacement value of homes and value of mortgage) Land is a larger percentage of the total cost. In my area (rural turning suburban) land is usually 1/3 with the house at 2/3s, a 1 to 2 ratio. But I'm told that it is not unusual in CA where land prices are quite high (and houses smaller) for it to be reversed with the land at 2/3s and the house at 1/3. I've had it be completely opposite in replacement insurance. I bought a rental property where the sale price was so low that the replacement cost was significantly higher than the sale price, double in fact. The house was a town house on a tiny lot and it had a lot of historical features which would be expensive to impossible to replace.

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