Hacker News Reader

Comment by anon98356 | Hacker News Reader

Firstly, never and never in your lifetime are two very different timespans.

Second, just because those houses from 2008 recession are now worth more than in 2008 doesn't mean they have been steadily increasing in value since 2008. There have definitely been downturns in the property market. One in particular that springs to mind is the impact of Brexit on house prices in London. Sure, eventually the price might recover to the point that homes are worth more than pre Brexit. But if you are trying to sell in the meantime that drop can have a significant impact on your ability to move.

View on HN

Ok never ever have housing really prices gone down. Look at any chart of average home prices in the US if you bought a house at any time and waited 10 years you definitely made money. Even in neighborhoods where >50% people were in foreclosure their homes are worth more then ever.

If you can find anywhere housing prices are less then in 2008 please say so.

The Brexit thing is just guesswork on your part those properties will be sell at the same prices they were listed at probably nobody actually purchased them in the first place just for speculation.

Look anywhere in rural areas of high tax states in Great Lakes/Midwest/Northeast, such as southern Illinois or upstate NY. Even homes in CT/NJ away from the urban centers are down in real value, maybe flat or slightly higher in nominal value.

Certain regions of the country are hot, certain regions are nowhere near. Even the differences in the regions of the US where house prices are rising exhibit a wide range from many areas only experiencing slight changes to others in the hundreds of thousands of dollars.

It depends if your region has the amenities people with money are looking for or if it has access to large numbers of high paying jobs.

No region doesn't matter look at the actual statistics on this. I looked at neighborhoods the had above 50% foreclosure rates and those houses STILL increased in value in the long term.

You can argue the real/nominal value, but housing cost are a cause of inflation in this regard not an effect, all prices are relative to the price of shelter for individuals.

Reply on news.ycombinator.com