3 ms·
Sure. Many are in cornfields in a small town. So random area in my zip code: https://www.zillow.com/mishawaka-in-46545/home-values/ https://www.zillow.com/mis
by brianwawok 9y ago
Sure. Many are in cornfields in a small town.
So random area in my zip code:
https://www.zillow.com/mishawaka-in-46545/home-values/ https://www.zillow.com/mishawaka-in-46545/home-values/
It is basically flat over the last 10 years. If you go back further, it more or less matches inflation.
Now look at someplace people actually want to live, like Chicago
https://www.zillow.com/chicago-il-60614/home-values/ https://www.zillow.com/chicago-il-60614/home-values/
The value curve is much different.
So basically, it is the land that goes up. Your actual HOUSE value goes down a tiny bit every year. I.e. all else being equal, a brand new house sells for a bit more than a 40 year old house. But if that 40 year old house is on an amazing piece of land, the overall (house + land) value could very easily appreciate a LOT.