Oof. Am I crazy or is this way beyond house inflation?
Oof. Am I crazy or is this way beyond house inflation?
The idea that 40 years and this house cost than 10x more?
I know there's a lot of other factors. I'm just... Sigh.
You're viewing a single thread.
Was there even a house there in 1986? The price difference would make a lot of sense if you're comparing an empty lot to a fully improved one that used to be in the middle of nowhere and is now surrounded by a fully developed neighborhood.
Yeah, without context OP’s example is meaningless. I could grab property records from Detroit that show the exact opposite of what is implied here.
That's a really good question! Is there a way to look that up?
I was looking at houses in my neighborhood on Zillow and the house was gorgeous, but I rolled my eyes when I saw the old rates.
Depends on the effort your willing to go to... if you walk down to town hall with at least $10 in your wallet, your likely to walk away with record duplicates to answer the question definitively...
Go to the register of deeds and look for some kind of mortgage around 1986 for an amount other than the lot.
On Zillow it usually says when the house was built. Are the other replies in jest? In 2024, to go somewhere physically, to look this up?
Dude, you're projecting. OP is asking a question, not making a point.
Exactly this. You can still find lots that cheap still in parts of the US and plop a 800k house on top of them. Then boom $800k estate.
Possibly also a house in a resource town that's gone boom bust boom. Some of those had people dropping keys and walking away from mortgages when all the jobs dried up, then things get crazy when a new mine etc opens and there's high-paid labor all looking for a place to live