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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We bought a home in McLean in 2008 for 900k on a 0.4 acre lot.  The house was built in 1955.  We added an addition to the house and fixed the inside.  The house is now 3400 sqft and worth about 1.9M.

Just insanse.  I wonder when the housing market will come back to earth.[/quote]

My parents bought a house in 1970 and sold it for 11x what they paid in 1997.  Today, that house is now worth 4x what they sold in 1997.  This is in the Boston suburbs which which have had stronger growth than here.

Prices go up.  Housing will never come back to where you think they should. [/quote]

The Boston market is insane and has been for awhile. A friend bought a tear down next to a metro and in 10 years if went from 250ish ro 570. They sold for an insane profit. And that was 8 years ago or so. It has just gotten more intense. I am starting to see that here. The whole think worries me since it is going to gut our already shrinking middle class.

I also grew up around Boston and my parents had pretty much the same experience. I'll add that before they bought that house they rented a house for $65/month. Zillow now shows that house estimated at $3.2 million. [/quote][/quote]

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