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Home prices in 20 U.S. cities rise by most since mid-2014
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i just received my assessment on my home in AZ. Over the last 18 months my house's value has increased by 40+ thousand dollars. It's like I am living in CA without the high taxes and donkeys. I told my wife we should sell and just buy a nice RV. Unfortunately she is not ready to be a nomad, but living in the desert has gotten her half-way there;

"Home prices in 20 U.S. cities rose in September by the most in more than three years, indicating resilient demand at a time of persistently scarce inventory, according to S&P CoreLogic Case-Shiller data released Tuesday.

The 20-city property values index increased 6.2% year-to-year (the estimate was 6%), the most since July 2014, after gaining 5.8% year-to-year. The national home-price gauge rose 6.2% year-to-year. The seasonally adjusted 20-city index advanced 0.5% month-to-month (the estimate 0.3%)."

https://www.nationalmortgagenews.com/...-most-since-mid-2014

"The great pleasure in life is doing what people say you cannot do."
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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jkca1 wrote:
i just received my assessment on my home in AZ. Over the last 18 months my house's value has increased by 40+ thousand dollars. It's like I am living in CA without the high taxes and donkeys. I told my wife we should sell and just buy a nice RV. Unfortunately she is not ready to be a nomad, but living in the desert has gotten her half-way there;

"Home prices in 20 U.S. cities rose in September by the most in more than three years, indicating resilient demand at a time of persistently scarce inventory, according to S&P CoreLogic Case-Shiller data released Tuesday.

The 20-city property values index increased 6.2% year-to-year (the estimate was 6%), the most since July 2014, after gaining 5.8% year-to-year. The national home-price gauge rose 6.2% year-to-year. The seasonally adjusted 20-city index advanced 0.5% month-to-month (the estimate 0.3%)."

https://www.nationalmortgagenews.com/...-most-since-mid-2014

Seattle up 13.2%. I can attest to that. A realtor friend of ours said the market has gone berserk over the past 3 weeks. She listed a home and had 7 offers on it in a day. Inventory is really low at the moment.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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I have no idea what my house is worth. I just know its paid for and worth a lot more than when I bought it 23 yrs ago. I'm not planning on moving right away and housing markets rise and sink constantly. Irrelevant which side of the bubble I'll be on when I do sell as I'll probably just still be stepping sideways.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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If only that were true in NJ. Bought in 2013, sitting on a 15% loss in value...
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [dah5609] [ In reply to ]
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dah5609 wrote:
If only that were true in NJ. Bought in 2013, sitting on a 15% loss in value...



Really. That is surprising. Why hasn't it recovered in 7 years? 2013 was not the height of the bubble, not even close really.
Last edited by: Uncle Arqyle: Feb 25, 20 12:25
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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A neighbor listed their house for 1 mil the other day. It's a 70 year old house, small lot, 1200 sq ft upstairs, and around 1000 downstairs, but the basement has a 7' ceiling. They had lots of foot traffic through but no sold sign yet.

If theirs sells for anywhere near that, I told my wife we are selling and moving somewhere else.

Long Chile was a silly place.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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My house in Nashville has nearly doubled in value. Yea me!

clm
Nashville, TN
https://twitter.com/ironclm | http://ironclm.typepad.com
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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pretty flat or slightly down for years where i am in the northern Philly burbs. We wouldn't get back what we paid 14 years ago, but got to live somewhere.

the Del Val area is nice - but right now the AZ desert seems a better option
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [ironclm] [ In reply to ]
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ironclm wrote:
My house in Nashville has nearly doubled in value. Yea me!


Same for the house we live in, except we rent it... so yea us, at least the landlords haven't jacked up the rent, I guess.

Landlords bought it in 2012 for approx. $225k. Did some renovations but nothing major/structural - redid the kitchen floor and put in mid-market appliances, new vanity and toilet in one bathroom but didn't redo the tub, etc. Now assessed well north of $500k.

Market here has seemed bubbly for several years now, even on top of the generally expensive nature of Boston real estate.
Last edited by: wimsey: Feb 25, 20 12:21
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [ironclm] [ In reply to ]
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Don’t all homes in TN double in value when you put the wheels back on?
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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I bought my house in 2001 for $700K.

About two years ago, it was worth about $3M.

Today, it's worth about $2.5M.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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In theory I was up ~8-10% on my place in Orlando and I’m probably up ~40% since I bought it. I’ve recently considered selling everything, quitting my job, winding down my side businesses, and building out a camper van to travel the country and ride my mountain bike.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jimatbeyond] [ In reply to ]
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jimatbeyond wrote:
I bought my house in 2001 for $700K.

About two years ago, it was worth about $3M.

Today, it's worth about $2.5M.

About the same for me, without the extreme spike/drop. It all feels pretty bubbly right now.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [DEEPSEADOC/E-9] [ In reply to ]
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DEEPSEADOC/E-9 wrote:
Don’t all homes in TN double in value when you put the wheels back on?

That would be in the Republican areas...

clm
Nashville, TN
https://twitter.com/ironclm | http://ironclm.typepad.com
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [ironclm] [ In reply to ]
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ironclm wrote:
My house in Nashville has nearly doubled in value. Yea me!

I have heard many people say Nashville is a great place to live. I have yet to visit, but you must be onto something.

"The great pleasure in life is doing what people say you cannot do."
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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Bought my house in Idaho in 2010 for $205,000, it is worth about $400,000 today. Great for me, I was born and raised where I am at and was lucky enough to buy at the right time. Sucks for the local kids younger than me that won't be able to afford anything with the wages around here.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [DEEPSEADOC/E-9] [ In reply to ]
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DEEPSEADOC/E-9 wrote:
Don’t all homes in TN double in value when you put the wheels back on?

You know you are a redneck when you have to steer around a buried car to mow your lawn

They constantly try to escape from the darkness outside and within
Dreaming of systems so perfect that no one will need to be good T.S. Eliot

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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [A-A-Ron] [ In reply to ]
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A-A-Ron wrote:

Bought my house in Idaho in 2010 for $205,000, it is worth about $400,000 today. Great for me, I was born and raised where I am at and was lucky enough to buy at the right time. Sucks for the local kids younger than me that won't be able to afford anything with the wages around here.


Of course, they could just move somewhere that pays more, and move back later if they wish. My children are not guaranteed a home where they grew up.
Last edited by: oldandslow: Feb 25, 20 16:03
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [len] [ In reply to ]
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len wrote:
DEEPSEADOC/E-9 wrote:
Don’t all homes in TN double in value when you put the wheels back on?


You know you are a redneck when you have to steer around a buried car to mow your lawn

...or a house that's mobile and ten cars that aren't.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [Uncle Arqyle] [ In reply to ]
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We originally bought in 2008 right at the top and then downsized in 2013 thinking that would be at the bottom of the market but seems to just keep going down slightly year on year. I think we're in our own little negative bubble in Bergen county. Also depends on size of house, I think anything over $1m is proving hard to shift.
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [jkca1] [ In reply to ]
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jkca1 wrote:
ironclm wrote:
My house in Nashville has nearly doubled in value. Yea me!

I have heard many people say Nashville is a great place to live. I have yet to visit, but you must be onto something.

Second hottest job market behind Austin. 2.4% unemployment. We also jumped way up on the Milken Institute's Best-Performing Cities Index. Amazon is bringing 5,000 new jobs.

The region performs well in both one- and five-year job growth indicators and ranked 17th and 14th, respectively. Highlighting this job growth, more than 23,000 jobs were added to the health care, construction and leisure and hospitality sectors in the Nashville metro area from 2016 to 2018.

Although known primarily as "The Country Music Capital of the World," Nashville’s economy also comprises an emerging tech hub and a hot spot for corporate and entrepreneurial relocations and expansions. The region has recently attracted startups like Framework, Made in Network, and XOi Technologies, placing the metro and its vibrant tech scene at ranks 12th and 24th in our five- and one-year high-tech GDP growth indicators, respectively.


Plus, if you love music - it's the place. Pro hockey, football and soccer, AAA baseball. Lots and lots of bars, craft breweries, distilleries (two within a mile radius from my house).

Too cold in the winter for me (but I hate cold). Come visit - I'll meet up with you for a cocktail.

clm
Nashville, TN
https://twitter.com/ironclm | http://ironclm.typepad.com
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [Uncle Arqyle] [ In reply to ]
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Uncle Arqyle wrote:
dah5609 wrote:
If only that were true in NJ. Bought in 2013, sitting on a 15% loss in value...


Really. That is surprising. Why hasn't it recovered in 7 years? 2013 was not the height of the bubble, not even close really.

I dunno, cuz nobody wants to live in Jersey if they can possibly help it...?
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [oldandslow] [ In reply to ]
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oldandslow wrote:
A-A-Ron wrote:
Bought my house in Idaho in 2010 for $205,000, it is worth about $400,000 today. Great for me, I was born and raised where I am at and was lucky enough to buy at the right time. Sucks for the local kids younger than me that won't be able to afford anything with the wages around here.

Of course, they could just move somewhere that pays more, and move back later if they wish. My children are not guaranteed a home where they grew up.

Except most of the better-paying areas have even tighter housing markets, so they won't be able to get any further ahead there unless they have another relative already in the area who could let them move in for next to nothing.


"They've done studies, ya know... 60% of the time, it works EVERY time."
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Re: Home prices in 20 U.S. cities rise by most since mid-2014 [OneGoodLeg] [ In reply to ]
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OneGoodLeg wrote:
oldandslow wrote:
A-A-Ron wrote:
Bought my house in Idaho in 2010 for $205,000, it is worth about $400,000 today. Great for me, I was born and raised where I am at and was lucky enough to buy at the right time. Sucks for the local kids younger than me that won't be able to afford anything with the wages around here.


Of course, they could just move somewhere that pays more, and move back later if they wish. My children are not guaranteed a home where they grew up.


Except most of the better-paying areas have even tighter housing markets, so they won't be able to get any further ahead there unless they have another relative already in the area who could let them move in for next to nothing.

Yet, millions of people do exactly that every year. Many try it and move back, many are quite successful in furthering their career. They may stay or move somewhere else (even back home, if they wish). A bunch of folks find someone else, and make it work with two incomes. As a person who usually complains about inequities, I remain firmly convinced that people should go out and make their way (and maybe return). The difficulties in that should not stop people from trying.
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