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When I had a house in Claremont, CA I often found myself traveling a lot. I used to play the "what will my house buy here?" game. Invariably it was always somet
by dhosek 5y ago
When I had a house in Claremont, CA I often found myself traveling a lot. I used to play the "what will my house buy here?" game. Invariably it was always something much nicer, but I liked living in Claremont. I lost that house to unemployment in the 90s recession/housing market crash. Every so often I'll look at it on redfin. It's been improved a fair amount since then, but not so much that it seems like it's really worth 5 times what I paid for it in the 90s.
- tata71 5y agoAre you accounting for the currency being worth less per unit than in the 90s?
- dhosek 5y agoFrom https://www.usinflationcalculator.com https://www.usinflationcalculator.com I get that the value of the house should have increased by 92.4% from the purchase price in 1993. The last sale (four months ago) was up by 438%¹. It gets worse if I go from the sale price in 1997 where inflation shows 73.2% but the increase was 525% ⸻⸻⸻ 1. To be explicit, the house sold for 5.48× more than the purchase price.