The idea that 40 years and this house cost than 10x more?
I know there's a lot of other factors. I'm just... Sigh.
this post was submitted on 07 Apr 2024
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As others in this thread have mentioned: there are a lot of factors that go into a property's value especially over that timeframe. Hell parcels could've been combined for all we know. But overall housing saw a general slow crawl of increased value, then volatility in 2009 followed by inflation really taking off 2017ish. My house doubled in value from 2019 to 2022.
But if we are assuming those costs are 40 years mostly unchanged conditions? That is still major increase in value. You see that kind of inflation in value if the land is in high demand. If its near a city center that has seen growth and devlopment? Easy increase in price.
Another factor are once remote areas that has seen major developments. Out here in PNW there are a lot of old developments on lakefronts that have exploded in value because they got a walmart within an hours drive and now an internet connection decent enough to enable teleworking.