The thing is... by ObviousTroll (2.00 / 0) #4 Thu May 08, 2008 at 04:07:41 PM EST
I don't think the "bubble has popped" in America, either. Certainly some places are seeing dramatic shifts in housing prices, but it's not uniform. Zillow still show my house as worth 100k more than it was in 1999.

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Has anybody seen my clue? I know I had it when I came in here.


That doesn't mean much by lm (2.00 / 0) #15 Sat May 10, 2008 at 09:39:42 AM EST
Zillow's margin of error seems to be about 50% Back when I still owned three houses, judging by the sale prices on two of those, it was 50% under on one, 50% over on the other. It seems to me to be about right on the third.

Aside from that, 100k of appreciation tells us nothing. A 100k house appreciating at 1 to 2 percent per year will appreciate between 10k and 22k over ten years. A 500k house could appreciate 100k in 10 years at what is a relatively low rate of appreciation.

Now if you bought your house for 50k in 1999 and it appreciated 100k, that would certainly indicate either a bubble or the fact that you had some very interesting photographs of the seller.


There is no more degenerate kind of state than that in which the richest are supposed to be the best.
Cicero, The Republic
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