Quote:
Originally Posted by RoadGame
This might be a helpful tool for people. Here's a house in my neighbourhood (not my house) that is broadly illustrative of what I'm seeing: very slight increase in market value over the past decade (depressing relative to the rest of Canada) and a slight drifting down in city hall assessments over the same period.
The assessment data for my own house is accurate, so I'm inclined to believe the history dataset here, which might be easier for people looking at their own home than digging through the filing cabinet.
https://www.honestdoor.com/property/...-nw-calgary-ab
I'd like a taste of this "speculative bubble" I keep hearing about. If getting to retirement is a marathon, my single largest asset has flipped open a lawnchair on the start line and tucked into a box of doughnuts. |
Interesting website, but where are you seeing market value over the past decade? I'm only seeing monthly data going back to September 2019.
It's too bad that particular house doesn't have data from before 2013, as I think that would have painted a far more complimentary picture and more accurate representation of what "your single largest asset"'s appreciation is over a much longer period.
I fished through my house's assessment values, which I think are in retrospect a pretty accurate picture of the market value; from 2006 to 2007 the value went up
58.5%. From 2005 to 2008 the average annual rate of appreciation was 27.2%. EDIT: Overall the value was up
106% in three years.
However, taking into account the overall 2005-to-present time period it's a much more modest—and realistic—5.7%. That takes into account the aforementioned massive spike from 2005 to 2008, the sharp drop (-12.2% p.a., -22.9% ovr.) from 2008 to 2010, the climb back up from 2010 to 2016 (+8.2% p.a.), and the flat (+0.1% p.a., +0.5% ovr.) performance since 2016.
Knowing roughly what my house would have sold for in the first place in the late fifties, what it sold for in the mid-eighties, and what I bought it for seven years ago, the annual rate of appreciation is ~6.5% every thirty years or so. That seems perfectly healthy to me, and is still way, way higher than wage growth since the mid-seventies...