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Wednesday, April 4, 2007

Real estate roller coaster makes you sick

Below is a video of what real estate values (adjusted to inflation) have been from 1890 to the present. It simply ridiculous the amount that it has gone up just recently. I wouldn't be surprised if it has anything to do with the fact that so many people think that real estate is a good investment (like the stock market but with material objects):

[via boingboing and consumerist]

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2:24 PM | Posted by mike | 2 comments posted below

Comments:

It's completely crazy. Right now prices are way down and nothing is selling. According to Zillow, my condo is now worth $172,000 (I bought it for $95,000 in 2003 and before Hurricane Wilma it was worth $220,000).

There are several units for sale here, including one in my building, and nobody is buying. I'm staying put and I plan to do a lot of work on it this year.
By Blogger mike3k, at 4/04/2007 05:25:00 PM
I don't know if that really accounts for the recent activity. I know a friend of mine who moved, and they tried to sell their house for years, and just recently sold. Things surely aren't moving.

My whole area seems to be in a lull. Some houses have been up for sale for months, and in some areas, it is every other house. Most seem to sit, so I personally don't agree with all of that "roller coaster" information (historically, maybe).
By Anonymous mike, at 4/04/2007 08:07:00 PM
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