Value of a home has noting to do with quality of construction. It has
everything to do with what people are willing to pay. Yes, location is a
big factor. The same exact house built with say, $100k in material can sell
for $150k in rural Nebraska or $1.2 million in San Diego CA, near the water.
My house has fluctuated in value over 15% recently, but so what? I'm not
selling or buying so it is meaningless. Only when I decide to sell will it
matter a bit, but if the house I want to buy is also up 15%, we still come
out about even. From what I've seen and read, home values are getting back
in line closer to what they should be. It was too easy to buy and people
were getting in over their heads based on nothing but the hope to re-finance
before the big balloon hit. Ooops.
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