Some of you may have seen the graphs floating around the Internet.
Inflation-adjusted US Median house prices have now reached the level they were in 1995!
And since there was a peak in 1979 -those who bought in that year - have seen inflation adjusted median prices drop 1.6%. So if you bought at the peak - housing did not even keep up with inflation after 30 years!
Meanwhile even with the huge drop in stock prices, the S and P 500 is still up 8 FOLD 1979-2009. (though that is not inflation adjusted)
This is to make the point how important it is to buy at the right time. How long do you think it will take for those who bought at the 2007/2008 peak to recoup their investments?
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Late breaking news...
REBGV numbers out:
http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package_April%202009.pdf
Noteworthy:
West Vancouver benchmark detached prices down 25% YOY. Down 9% over the last 3 years!
Vancouver West benchmark detached prices down 22.2% YOY. Up 6% over the last 3 years.
Port Moody benchmark detached prices down 34.8% YOY. Down 19.4% over the last 3 years.
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Here they are, the best charts on the net.
http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package_April%202009.pdf
Thanks Mohican
