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My ‘standard existing house’ in 2006 was an empty corner lot in 1999. I’d agree that the spike in the last 10 years looks anomalous, but i will say that the average house 20 years ago probably had one less bedroom, one less bathroom, no central a/c, fewer amenities, unfinished basements, etc… Does that justify nearly doubling the base ‘average’? No, but it should influence it upwards.
Plus, the bubble can’t be allowed to pop until we after we sell our home.
September 12th, 2006 at 10:01 pm
My ‘standard existing house’ in 2006 was an empty corner lot in 1999. I’d agree that the spike in the last 10 years looks anomalous, but i will say that the average house 20 years ago probably had one less bedroom, one less bathroom, no central a/c, fewer amenities, unfinished basements, etc… Does that justify nearly doubling the base ‘average’? No, but it should influence it upwards.
Plus, the bubble can’t be allowed to pop until we after we sell our home.