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Old Today, 11:37 AM
 
10 posts, read 13 times
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Originally Posted by Hemlock140 View Post
For us having stayed in the same house for 25 years means a low mortgage payoff and lots of equity. Our house cost $190,000 in 1993, now Zillow shows it at close to $900,000. We plan to retire in 3-4 years and sell, move within 1-2 hours away to a less expensive area. Yes, prices farther out have gone up too, but not nearly as much. We should still be able to pay cash for what we want (less house, more land) and have leftover cash. Take for example my parents' home about 3 hours away which they will be selling soon to go into assisted living. The house is 3/2 with a great 3 car garage/shop, barn and 4 acres. They paid $70,000 in 1998, and it's now valued per Zillow at $222,000.
Wow talking about inflation, house become 3 times more then its really worth? What changed in the area? If nothing changing, then the inflation is over valued. IMO. Did Jim bob across the street added an extra garage?

For me to see a increase in value of a home, something value needs to occur to make it really worth the price. Demanding more, vs getting are 2 different things. What am I missing here that determines the value of a home, when absolute nothing has changed in the area or home it self. Demand is not the answer, nor is supply if their are many houses built or on sale in the same area.
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Old Today, 06:02 PM
 
Location: Myrtle Creek, Oregon
11,707 posts, read 12,048,596 times
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That $77,000 is $120,000 in today's dollars, and it's a rare piece of rural property that hasn't had substantial improvements in 20 years. If they sell, they will get their money back with a few percent extra, but it's not as much of a price runup as you seem to think.
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