Quote:
Originally Posted by ranchlandsselling
Been looking around MLS recently as I'm probably a year or so away from buying another place. From an exchange on the Realtor forum we discussed a house that sold for 161k in 1983, 344k in 2004 and is listed for 670k in 2011 (now). Does that not seem insane?
I bought a townhouse for $350k in 2008 a few months after we had come down from the high. That seemed okay. In 2009 it seemed crappy, 2010 so,so, 2011 a bit better. I knew it had appreciated substantially in the recent years and was okay with that.
Now looking to upgrade and to finding a nice house that I could have bought in 04 for less than my townhouse that I'm now thinking holy crap I paid too much.
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The price of a loaf of bread is double what it was in 2004. The FAO food price index is double what it was in 2004. The price of oil is double what it was in 2004. The Bank of Canada Commodity Price Index is almost double what it was at the beginning of 2004. The price of gold is four times what it was in 2004. Money just isn't worth what it used to be.