4 ms·

This is plain false. I would love a zillow link to show one single example of a house in 2008 being worth more than it is today. Housing in most of the US is up

This is plain false. I would love a zillow link to show one single example of a house in 2008 being worth more than it is today. Housing in most of the US is up 20-40 % in the last two years alone and the crash in 2008 was around 20-40%.

ypzhang2 4y ago
This is trivially easy: this home was sold in 2007 for 2.9m and was just recently solid for 1.8m 7 months ago. Top of market took a huge beating in 2007-2008. https://www.zillow.com/homedetails/162-N-Wynstone-Dr-North-Barrington-IL-60010/4858169_zpid/ https://www.zillow.com/homedetails/162-N-Wynstone-Dr-North-B...
- silpheed5 4y ago
  Depends on the area. The bay area home prices started to exceed the 2007 bubble prices around 2015 and are well above the old peak still. https://www.bayareamarketreports.com/trend/3-recessions-2-bubbles-and-a-baby https://www.bayareamarketreports.com/trend/3-recessions-2-bu...
- TrapLord_Rhodo 4y ago
  Your trivally easy remark seems handpicked. look at some of the other homes in that area. None of them have performed like that. Take a look at this one: https://www.zillow.com/homedetails/610-Signal-Hill-Rd-North-Barrington-IL-60010/4861233_zpid/ https://www.zillow.com/homedetails/610-Signal-Hill-Rd-North-...
lobocinza 4y ago
If something is down by 20-40% it should be up by 25-67% to return to it's initial value.
- TrapLord_Rhodo 4y ago
  there was more than 2 years in between 2008 and this year.
inferiorhuman 4y ago
I'd start by looking at places that had huge real estate bubbles like Las Vegas or are far enough away from anything interesting (like all the shitty Bay Area suburbs). For a lot of not great reasons I've a condo in one of those shitty Bay Area suburbs. Four units in this complex were listed for sale this year. Two sold for a bit under 500k, and two are still asking well over 500. So yeah I'd say the upper bound currently is $500k. Pre-COVID prices were in the low 400s. I've checked out the property tax bills for my neighbors, and, yes, some have an assessed value of well over $500k. They've been underwater for about a decade.

ypzhang2 4y ago

This is trivially easy: this home was sold in 2007 for 2.9m and was just recently solid for 1.8m 7 months ago. Top of market took a huge beating in 2007-2008. https://www.zillow.com/homedetails/162-N-Wynstone-Dr-North-Barrington-IL-60010/4858169_zpid/ https://www.zillow.com/homedetails/162-N-Wynstone-Dr-North-B...

silpheed5 4y ago
Depends on the area. The bay area home prices started to exceed the 2007 bubble prices around 2015 and are well above the old peak still. https://www.bayareamarketreports.com/trend/3-recessions-2-bubbles-and-a-baby https://www.bayareamarketreports.com/trend/3-recessions-2-bu...
TrapLord_Rhodo 4y ago
Your trivally easy remark seems handpicked. look at some of the other homes in that area. None of them have performed like that. Take a look at this one: https://www.zillow.com/homedetails/610-Signal-Hill-Rd-North-Barrington-IL-60010/4861233_zpid/ https://www.zillow.com/homedetails/610-Signal-Hill-Rd-North-...

lobocinza 4y ago

If something is down by 20-40% it should be up by 25-67% to return to it's initial value.

TrapLord_Rhodo 4y ago
there was more than 2 years in between 2008 and this year.

inferiorhuman 4y ago

I'd start by looking at places that had huge real estate bubbles like Las Vegas or are far enough away from anything interesting (like all the shitty Bay Area suburbs). For a lot of not great reasons I've a condo in one of those shitty Bay Area suburbs. Four units in this complex were listed for sale this year. Two sold for a bit under 500k, and two are still asking well over 500. So yeah I'd say the upper bound currently is $500k. Pre-COVID prices were in the low 400s. I've checked out the property tax bills for my neighbors, and, yes, some have an assessed value of well over $500k. They've been underwater for about a decade.