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Real Estate
Reply to "Overpaying on a house - how are you justifying it?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There are still some houses that sold at the peak in 2005 that are selling for less today. Ouch. On the other hand, there's 19 years of equity in the property.[/quote] Find me four houses in the metro DC area that are selling for less than their 2005 price. Waiting Waiting Still Waiting.[/quote] Not that PP but I know a condo market example, sadly. Hit 2005 price finally in 2021 before rates went all the way up. But most recent sale was a penthouse unit that would be expected to close above - it did but only with large closing cost credit for a net below 2005 price for non-penthouse. So, in net, no price appreciation at all since 2005. These are condos, yes, so perhaps not relevant to discussion of SFH, but it was supposed to be the way for people to get on the property ladder. [/quote]
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