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I think this comment just proved that condos don't appreciate as fast as single family homes or townhomes. In certain cities in the US, single family homes hav
by ab_testing 5y ago
I think this comment just proved that condos don't appreciate as fast as single family homes or townhomes.
In certain cities in the US, single family homes have gone up 2.5x in the last 5 years & sometimes even less than that.
Phoenix, Las Vegas, Miami, Mountain View are some examples
- seanmcdirmid 5y agoIf you looked at appreciation over 20 years in those cities (sans Mountain View), it might come out to less than 2.5X even if the last 5 years it was, especially when inflation is accounted for. Phoenix in particular: https://i0.wp.com/arizonarealestatenotebook.com/wp-content/uploads/2018/09/2018-09-27-Real-Real-Estate-Prices-Phoenix.png?ssl=1 https://i0.wp.com/arizonarealestatenotebook.com/wp-content/u... This graph only goes up to 2019, so it is probably higher now, but that is one heck of a drop. Also, it isn't strange that a lower cost market appreciates faster than a higher price one. If say houses were $100k in Phoenix after the crash in 2008, now they are $400k, that is 4X! At the same time, a $1 million dollar house in Boston after the crash is only $1.4 or 1.5 million now, only 1.5X.