Home prices are down 16% nationally since a year ago... Up to 31% in places like Vegas. Zowie. How hard did ATL and Portland get hit? North Carolina's down, but only about 3-4%. The house we're building now we're paying about 10-15% less than what people were paying a year or two ago, so hopefully we won't be upside down as soon as we move in.
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9.5% this year
ReplyDeleteGood thing I have a renter.
I spoke too soon... Home values are actually up in both Raleigh and Durham.
ReplyDeleteThe house I rented in 2007 in Vegas was built for $160K 6 years ago. It peaked at $400K and now it's worth $300K. You can look at that as a 25% loss over the last 2 years, or you can look at that as a 87% gain over the last 6 years.
ReplyDeleteIf you want gloom and doom out of the statistics, you can find it but that don't necessarily make it fucking so. /Reservoir Dogs> The only people who have lost home value are the people who bought between around 2004 and 2007. Everybody else has had significant increases in value.
My own house is up 6% this year. The neighborhoods that drag the overall percentage down are the ones with lots of foreclosures because everybody financed their houses through the dollar payday title loan center.