Comparison of down payments in 1992 vs. 2009 (approx.).
For the purposes of a Trust, I am trying to determine what a down payment of ~$50,000 in 1992 would equal in today's market? My brothers each received that amount around 1992 to buy 3 bd.homes in Sherman Oaks/Studio City, and now I am to receive a similar amount in today's market to purchase a home (i.e., $50,000 or ? % of a condo the family owns in S.City, now worth ~$400,000?) . Can that be determined, taking into account "cost of living", and other factors that may contribute? It doesn't have to be exact, "to the penny" but anything would help to finish this up. I would be very grateful for an answer! Thanks, Jill
Hi Jill,
Whether you receive an inflation adjusted $50k, or a $50k stake in the purchase price of a condo bought in 1992 seem like two different propositions to me. In one case you're talking about what $50k in 1992 is worth today. In the other, you're talking about a share of $400k. I depends on what the offer or agreement was.
Please feel free to contact me if you need any information on homes and prices.
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