Reply to How do I calculate what a house will cost in five years? Ten years?

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[quote=Anonymous][quote=Anonymous]We are renters who want to buy someday but we don't have the down payment.  Our HHI is 270k but that is very recent, in the last couple of years, and we're unlikely to increase it significantly in the future (one fed, one non-profit)  We have about 90K in student loans with low interest rates.  We are also paying for childcare for one toddler and would like to have another, so we will be in the childcare years for awhile.  We rent a spacious and affordable apartment in a great neighborhood. We both max out our TSP / 403(b), and I do a FSA for dependent care and healthcare, and we are contributing to a 529.  We are saving money ($1200 per pay period), but it will take some time to have a sizable down payment.

I am constantly looking at redfin to see what kind of houses we can afford IF we had the down payment, which is silly because, well, we don't.  I'm so afraid that the houses we could afford now will be out of the question in another five years, when we've saved for a down payment + closing costs and the baby/toddler years are behind us.  Is there a general formula I could use to figure out what, say, an 800k or 900k house will cost in five years?  Ten years?  That is assuming there's not a financial crisis between now and then.

Thanks for any help![/quote]

2-3% compounded year over year. So at 500k, expect 2% at the low end so 552k in 5 years. Maybe more. [/quote]

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