5% per year...50% in ten years...sounds like some pretty good numbers right?
That's the truth in San Diego...but no one is talking about it!
The latest Case-Schiller report is out...read all the details in a WSJ article from yesterday...everything is referenced to 2000 prices...and good ol' San Diego is there with a 153 rating...Our homes prices are more than 50% higher than the 2000 average...you would think that would be good news!
I work a lot in the Valley Center and Escondido areas...this was ground zero for foreclosures...but we're seeing the same thing here...prices are coming back and the overall numbers for a 10-year period are still great.
Real Estate is supposed to be a long-term investment....and this report really puts things in a better perspective.
Most of the metro areas are up....even Phoenix and Las Vegas are over 100...New York is over 170....that is huge!
This is powerful stuff...what a great tool to educate our clients about the long term nature of this business...we can go through the worst crash in Real Estate History, and still be up over a 10 year span!
I know my clients are going to hear about this!!
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