Here's a great listing I noticed this morning
2 beds 2 baths 827 sqft
"Bring your tool belt, this property needs some TLC! Great location, this property has much potential! Close to schools, shopping, and freeway access."
$900,000
https://www.redfin.com/CA/Albany/815-Santa-Fe-Ave-94706/home...
Granted, what was there was nice enough (all 1100 sq/ft of it), but over $1M for a 2/1 ... it's just insane right now. It was listed for $749k. The overbidding situation seems to regularly bring in multiple (as in 10-20) offers for a house.
That's a 10.4% annual return per year for 40 years.
That's better than the 8.2% returned by the S&P 500 over the same period.
I think Realtors must be farking psychopaths to think that this should be valued at such...
However, anyone with a crap-ton of money who doesnt blink at a price like that for this, well -- they should jsut feel like lucky, fortunate people.
That's nuts.