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Monday, March 30, 2009

House Prices: Round Trip to 1990

by Calculated Risk on 3/30/2009 02:52:00 PM

Zach Fox at the North County Times brings us another Deal of the Week: Riding the waves in Oceanside

Round Trip in Oceanside Click on graph for larger image in new window.

The featured 2 BR 2 BA condo sold for just under $100 thousand new in 1990. It went into foreclosure during the early '90s California housing bust, and was resold in 1995 for $33,000.

By 2000 the condo was above the original selling price. And then "rode the bubble" to an outrageous price. The condo went through foreclosure last year and sold in February for less than the original price in 1990! Adjust that return for inflation ...