The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (97896)	12/20/2007 12:37:20 AM
From: Drygulch Dan	Read Replies (2) of 306849

John, I am quite tuned in on the "...SF are $500k+ for a shack..." having sold a number of properties in this general area. Plus I understand the "...any one know what the disparity was like 30 years ago..." West coast part of this comparison. 30 years ago the house I am sitting in would have sold for about $75K. 50 years ago it was newly built and sold for $5,800 or slightly more. Today or rather next month, when I sell it, it will garner something like $800K and take under a month to sell. The underlying reasons for this steady dramatic price escalation has little to do with the house itself but much more with its precise location as well as world population trends. Remember the old location axiom.

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