Asked by Jonathan Stilman, Palo Alto, CA • Fri Nov 21, 2008
My wife and I sold our home in '07 and have a significant capital gains, as it seems we sold at the peak of the market. I am considering whether I should purchase again to mitigate our tax bill, but am very hesitant to put money back in real estate.
My question is whether anyone can point me to historical home appreciation data for homes in the $3M in today's dollars. I have found data online which suggest overall housing has appreciated at 9%. However, I've seen some data that suggests that the rate of return is much lower for homes worth over $2M, as low as 2%.
To clarify the question, I am interested how much on average a home purchased in 1978 for > $1M (inflation adjusted) has appreciated in the last 30 years. Any info would be appreciated.
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